https://www.taxtmi.com/caselaws?id=347127 The Tribunal upheld the validity of the reassessment under section 147 of the Income-tax Act, finding that the reopening was not solely based on a change of opinion but on the failure of the Assessing Officer to properly consider the provisions of section 35DD during the original assessment. However, the Tribunal allowed the deduction claimed for stamp duty paid on demerger under section 43B, stating that such expenditure falls under section 43B and is allowable on a payment basis, contrary to the CIT(A)'s view that section 35DD governs such deductions. The appeal by the assessee was partly allowed. en-us Fri, 11 Aug 2017 00:00:00 +0530 Tue, 29 Aug 2017 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347127 The Tribunal upheld the validity of the reassessment under section 147 of the Income-tax Act, finding that the reopening was not solely based on a change of opinion but on the failure of the Assessing Officer to properly consider the provisions of section 35DD during the original assessment. However, the Tribunal allowed the deduction claimed for stamp duty paid on demerger under section 43B, stating that such expenditure falls under section 43B and is allowable on a payment basis, contrary to the CIT(A)'s view that section 35DD governs such deductions. The appeal by the assessee was partly allowed. Case-Laws Income Tax Fri, 11 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347127