https://www.taxtmi.com/caselaws?id=456735 The Gujarat HC ruled in favor of the assessee regarding reassessment proceedings under Section 147 concerning deduction claimed under Section 80P(2)(d). The court held that since the Section 80P deduction issue was already examined during scrutiny proceedings through notices under Section 142(1) with full disclosure by the assessee, the Revenue's reassessment attempt constituted merely a change of opinion without fresh tangible material. The court determined that reassessment proceedings were invalid as the matter had been adequately scrutinized earlier with complete disclosure on record. en-us Mon, 11 Sep 2023 00:00:00 +0530 Sat, 10 Aug 2024 18:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456735 The Gujarat HC ruled in favor of the assessee regarding reassessment proceedings under Section 147 concerning deduction claimed under Section 80P(2)(d). The court held that since the Section 80P deduction issue was already examined during scrutiny proceedings through notices under Section 142(1) with full disclosure by the assessee, the Revenue's reassessment attempt constituted merely a change of opinion without fresh tangible material. The court determined that reassessment proceedings were invalid as the matter had been adequately scrutinized earlier with complete disclosure on record. Case-Laws Income Tax Mon, 11 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456735