https://www.taxtmi.com/caselaws?id=377528 The High Court upheld the Tribunal's decision to annul the reopening of assessments under Section 147 of the Income Tax Act for the years 2001-02 and 2002-03. The court emphasized that the Assessing Officer's deviation was only for one assessment year and that the benefit under Section 80(IA) had to flow over a period of 10 years. The court found that the Assessing Officer's decision to reopen the assessments was based on a change of opinion without the assessee failing to disclose relevant facts, leading to the dismissal of the appeals as no substantial question of law was identified. en-us Wed, 27 Feb 2019 00:00:00 +0530 Fri, 29 Mar 2019 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377528 The High Court upheld the Tribunal's decision to annul the reopening of assessments under Section 147 of the Income Tax Act for the years 2001-02 and 2002-03. The court emphasized that the Assessing Officer's deviation was only for one assessment year and that the benefit under Section 80(IA) had to flow over a period of 10 years. The court found that the Assessing Officer's decision to reopen the assessments was based on a change of opinion without the assessee failing to disclose relevant facts, leading to the dismissal of the appeals as no substantial question of law was identified. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377528