https://www.taxtmi.com/caselaws?id=790254 Reopening under section 147, deduction claims under section 42, and application of Minimum Alternate Tax under section 115JA were examined in the context of a production sharing contract and the change of opinion doctrine. The Supreme Court found no good ground to interfere with the Gujarat High Court's order under Article 136 and dismissed the special leave petition, leaving the impugned judgment undisturbed. The discussion also noted the limits of the Assessing Officer's powers in the original assessment and the business of prospecting for or extraction of mineral oil. en-us Fri, 17 Apr 2026 00:00:00 +0530 Wed, 22 Apr 2026 08:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790254 Reopening under section 147, deduction claims under section 42, and application of Minimum Alternate Tax under section 115JA were examined in the context of a production sharing contract and the change of opinion doctrine. The Supreme Court found no good ground to interfere with the Gujarat High Court's order under Article 136 and dismissed the special leave petition, leaving the impugned judgment undisturbed. The discussion also noted the limits of the Assessing Officer's powers in the original assessment and the business of prospecting for or extraction of mineral oil. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790254