https://www.taxtmi.com/caselaws?id=384709 The High Court held that the substituted Section 80IB(10) effective from 1.4.2005 does not apply retrospectively to projects approved before 1.4.2004. Reassessment proceedings under Section 147/148 were deemed invalid as they were based on a change of opinion without new tangible material. The Tribunal's decision allowing the deduction under Section 80IB(10) and setting aside the reassessment proceedings was upheld. Appeals were dismissed, and questions of law were answered in favor of the assessee against the Revenue. en-us Mon, 19 Aug 2019 00:00:00 +0530 Fri, 01 Nov 2019 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384709 The High Court held that the substituted Section 80IB(10) effective from 1.4.2005 does not apply retrospectively to projects approved before 1.4.2004. Reassessment proceedings under Section 147/148 were deemed invalid as they were based on a change of opinion without new tangible material. The Tribunal's decision allowing the deduction under Section 80IB(10) and setting aside the reassessment proceedings was upheld. Appeals were dismissed, and questions of law were answered in favor of the assessee against the Revenue. Case-Laws Income Tax Mon, 19 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384709