https://www.taxtmi.com/caselaws?id=461222 The article examines the validity of revision under section 263 where deduction under section 80HHC on book profit was said to have been wrongly claimed, and it focuses on the effect of Explanation 3 to section 147 on the scope of reassessment. It notes the earlier Delhi High Court view in Ranbaxy Laboratories that reassessment could not extend beyond the reasons recorded under section 148, the subsequent doubt expressed in Jakhotia Plastics, and the Court's decision to admit the appeal on whether the Assessing Officer may assess escaped income on issues not forming part of the recorded reopening reasons. en-us Mon, 12 Feb 2024 00:00:00 +0530 Fri, 21 Mar 2025 19:21:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461222 The article examines the validity of revision under section 263 where deduction under section 80HHC on book profit was said to have been wrongly claimed, and it focuses on the effect of Explanation 3 to section 147 on the scope of reassessment. It notes the earlier Delhi High Court view in Ranbaxy Laboratories that reassessment could not extend beyond the reasons recorded under section 148, the subsequent doubt expressed in Jakhotia Plastics, and the Court's decision to admit the appeal on whether the Assessing Officer may assess escaped income on issues not forming part of the recorded reopening reasons. Case-Laws Income Tax Mon, 12 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461222