https://www.taxtmi.com/caselaws?id=760398 ITAT Indore held that reopening of assessment after 4 years from assessment year end was invalid as AO failed to establish that income escaped assessment due to assessee's non-disclosure of material facts. The issue regarding Section 80IB(11A) deduction eligibility was debatable, making reopening a mere change of opinion. Additionally, ITAT upheld that potato chips manufacturing constitutes processing of vegetables, not manufacturing, qualifying for Section 80IB deduction. Following HC precedents classifying chips as processed vegetables for commercial tax purposes, same classification applies for income tax. Revenue's appeal was dismissed. en-us Thu, 17 Oct 2024 00:00:00 +0530 Sat, 19 Oct 2024 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760398 ITAT Indore held that reopening of assessment after 4 years from assessment year end was invalid as AO failed to establish that income escaped assessment due to assessee's non-disclosure of material facts. The issue regarding Section 80IB(11A) deduction eligibility was debatable, making reopening a mere change of opinion. Additionally, ITAT upheld that potato chips manufacturing constitutes processing of vegetables, not manufacturing, qualifying for Section 80IB deduction. Following HC precedents classifying chips as processed vegetables for commercial tax purposes, same classification applies for income tax. Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760398