https://www.taxtmi.com/caselaws?id=297330 The reassessment proceedings initiated under Section 147 of the Income-tax Act were found invalid as the assessee had disclosed all material facts during the original assessments, and the conditions for reopening after four years were not met. Disallowance under Section 14A for computing book profit under Section 115JB was upheld based on a High Court decision. The Tribunal allowed the alternative claim under Section 35(1)(iv) for scientific research expenditure. The issue of credit under Section 115JAA was remitted back for consideration. The appeals for A.Y. 2005-06 and 2006-07 were partly allowed, while the Revenue's cross appeals were dismissed. The assessee's appeal for A.Y. 2009-10 was allowed pro-tanto. en-us Tue, 31 May 2016 00:00:00 +0530 Sat, 28 Aug 2021 09:20:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297330 The reassessment proceedings initiated under Section 147 of the Income-tax Act were found invalid as the assessee had disclosed all material facts during the original assessments, and the conditions for reopening after four years were not met. Disallowance under Section 14A for computing book profit under Section 115JB was upheld based on a High Court decision. The Tribunal allowed the alternative claim under Section 35(1)(iv) for scientific research expenditure. The issue of credit under Section 115JAA was remitted back for consideration. The appeals for A.Y. 2005-06 and 2006-07 were partly allowed, while the Revenue's cross appeals were dismissed. The assessee's appeal for A.Y. 2009-10 was allowed pro-tanto. Case-Laws Income Tax Tue, 31 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297330