https://www.taxtmi.com/caselaws?id=347191 The Tribunal found the proceedings initiated under section 148 of the Income Tax Act for assessment years 2005-06 and 2006-07 to be legally invalid. The Assessing Officer's reasons for reopening the assessments were deemed insufficient to establish that income had escaped assessment due to incorrect allowance of deductions under section 80 IB(10) of the Act. Consequently, the Tribunal set aside the assessments, allowing the appeals of the assessee and dismissing those of the Revenue for both assessment years. en-us Fri, 30 Jun 2017 00:00:00 +0530 Wed, 30 Aug 2017 17:50:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347191 The Tribunal found the proceedings initiated under section 148 of the Income Tax Act for assessment years 2005-06 and 2006-07 to be legally invalid. The Assessing Officer's reasons for reopening the assessments were deemed insufficient to establish that income had escaped assessment due to incorrect allowance of deductions under section 80 IB(10) of the Act. Consequently, the Tribunal set aside the assessments, allowing the appeals of the assessee and dismissing those of the Revenue for both assessment years. Case-Laws Income Tax Fri, 30 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347191