https://www.taxtmi.com/caselaws?id=357877 The Tribunal partially allowed the appeal, granting deduction under section 80IB for the sale of liquid milk and upholding the deduction computation method considering unabsorbed depreciation. The Tribunal rejected the appellant's claims regarding the reopening of assessment under section 147 of the Act, as it was not based on a change of opinion. The decision reversed the lower authorities' denial of deduction for the sale of liquid milk and affirmed that deductions under section 80IB should be computed after adjusting unabsorbed depreciation, following relevant case law. en-us Mon, 26 Mar 2018 00:00:00 +0530 Sat, 31 Mar 2018 07:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357877 The Tribunal partially allowed the appeal, granting deduction under section 80IB for the sale of liquid milk and upholding the deduction computation method considering unabsorbed depreciation. The Tribunal rejected the appellant's claims regarding the reopening of assessment under section 147 of the Act, as it was not based on a change of opinion. The decision reversed the lower authorities' denial of deduction for the sale of liquid milk and affirmed that deductions under section 80IB should be computed after adjusting unabsorbed depreciation, following relevant case law. Case-Laws Income Tax Mon, 26 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357877