https://www.taxtmi.com/caselaws?id=399169 The Tribunal upheld the CIT(A)'s decision to quash the reassessment proceedings for the assessment year 2009-10, denying deduction u/s.80IB(10). The reassessment was found invalid as it was based on a mere change of opinion by the new AO, not new material, following the precedent set in CIT Vs. Kelvinator of India Ltd. The Tribunal emphasized the significance of the validity of reassessment and ruled in favor of the assessee, dismissing the appeal and highlighting the impermissibility of reassessment solely on a change of opinion. en-us Thu, 01 Oct 2020 00:00:00 +0530 Mon, 05 Oct 2020 08:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399169 The Tribunal upheld the CIT(A)'s decision to quash the reassessment proceedings for the assessment year 2009-10, denying deduction u/s.80IB(10). The reassessment was found invalid as it was based on a mere change of opinion by the new AO, not new material, following the precedent set in CIT Vs. Kelvinator of India Ltd. The Tribunal emphasized the significance of the validity of reassessment and ruled in favor of the assessee, dismissing the appeal and highlighting the impermissibility of reassessment solely on a change of opinion. Case-Laws Income Tax Thu, 01 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399169