https://www.taxtmi.com/caselaws?id=20268 The court upheld the Tribunal's decision in a case concerning the reopening of an assessment for the assessment year 1975-76 by the Income-tax Officer. It was found that the reassessment was unwarranted as it was solely based on a change of opinion without new information justifying it. The court agreed with the Tribunal's interpretation that the deduction for gratuity should be calculated under section 40A(7) post its introduction, and the original deduction allowed was correct. Consequently, the court ruled in favor of the assessee, rejecting the Revenue's arguments. en-us Wed, 11 Aug 1993 00:00:00 +0530 Thu, 12 Nov 2009 18:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20268 The court upheld the Tribunal's decision in a case concerning the reopening of an assessment for the assessment year 1975-76 by the Income-tax Officer. It was found that the reassessment was unwarranted as it was solely based on a change of opinion without new information justifying it. The court agreed with the Tribunal's interpretation that the deduction for gratuity should be calculated under section 40A(7) post its introduction, and the original deduction allowed was correct. Consequently, the court ruled in favor of the assessee, rejecting the Revenue's arguments. Case-Laws Income Tax Wed, 11 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20268