https://www.taxtmi.com/caselaws?id=424221 The Tribunal held the reopening of assessment invalid, emphasizing it cannot be based on a mere change of opinion. The assessee was found eligible for deduction under Section 80IA, with the Tribunal emphasizing continuity of deductions once granted. Interest income was included in deduction computation, except for income not related to the business. Other issues were dismissed or directed for proper calculation. Penalties under Section 271(1)(c) were deleted due to disallowances being overturned. The Tribunal ruled in favor of the assessee on most grounds, providing guidance on various tax matters. en-us Wed, 08 Jun 2022 00:00:00 +0530 Thu, 23 Jun 2022 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424221 The Tribunal held the reopening of assessment invalid, emphasizing it cannot be based on a mere change of opinion. The assessee was found eligible for deduction under Section 80IA, with the Tribunal emphasizing continuity of deductions once granted. Interest income was included in deduction computation, except for income not related to the business. Other issues were dismissed or directed for proper calculation. Penalties under Section 271(1)(c) were deleted due to disallowances being overturned. The Tribunal ruled in favor of the assessee on most grounds, providing guidance on various tax matters. Case-Laws Income Tax Wed, 08 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424221