https://www.taxtmi.com/caselaws?id=396899 The Tribunal quashed the reassessment proceedings as they were based on a mere change of opinion, lacking new tangible material. The disallowance of sales promotion expenses was deleted as the expenses were not prohibited by law. The addition for alleged concealed sales was partly allowed, with the disallowance restricted to the cost of excess raw material wastage. The claim for Section 80IB exemption on increased business income due to additions was dismissed. en-us Wed, 22 Jul 2020 00:00:00 +0530 Thu, 23 Jul 2020 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396899 The Tribunal quashed the reassessment proceedings as they were based on a mere change of opinion, lacking new tangible material. The disallowance of sales promotion expenses was deleted as the expenses were not prohibited by law. The addition for alleged concealed sales was partly allowed, with the disallowance restricted to the cost of excess raw material wastage. The claim for Section 80IB exemption on increased business income due to additions was dismissed. Case-Laws Income Tax Wed, 22 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396899