https://www.taxtmi.com/caselaws?id=394903 The Court dismissed the Writ Petitions challenging notices under Section 148 of the Income Tax Act for reopening assessments. It upheld the Commissioner's order for re-computing profit eligible for deduction under Section 10B, despite disallowance under Section 40(a)(ia). The Court clarified that the time-barred reopening of assessments was permissible under Section 150(2) if the assessment time had expired before the previous order. It directed the petitioner to participate in proceedings before the respondent and file objections within a specified timeframe. en-us Mon, 09 Mar 2020 00:00:00 +0530 Mon, 27 Apr 2020 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394903 The Court dismissed the Writ Petitions challenging notices under Section 148 of the Income Tax Act for reopening assessments. It upheld the Commissioner's order for re-computing profit eligible for deduction under Section 10B, despite disallowance under Section 40(a)(ia). The Court clarified that the time-barred reopening of assessments was permissible under Section 150(2) if the assessment time had expired before the previous order. It directed the petitioner to participate in proceedings before the respondent and file objections within a specified timeframe. Case-Laws Income Tax Mon, 09 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394903