https://www.taxtmi.com/caselaws?id=60936 The Tribunal upheld the reassessment proceedings for the assessment years 1981-82 and 1982-83, noting the assessee's failure to disclose material facts, such as separate audited accounts for the Rail Track Division and interest expenses allocation, leading to an inflated deduction claim under section 80J. The Tribunal rejected the change of opinion argument, emphasizing the duty to disclose all primary facts. Additionally, the Tribunal affirmed the Assessing Officer's method of proportionate allocation of interest expenses for the quantum of deduction under section 80J. The appeals were dismissed, confirming the reassessment validity and deduction quantum for both years. en-us Fri, 15 May 1998 00:00:00 +0530 Sat, 08 Jan 2011 16:50:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60936 The Tribunal upheld the reassessment proceedings for the assessment years 1981-82 and 1982-83, noting the assessee's failure to disclose material facts, such as separate audited accounts for the Rail Track Division and interest expenses allocation, leading to an inflated deduction claim under section 80J. The Tribunal rejected the change of opinion argument, emphasizing the duty to disclose all primary facts. Additionally, the Tribunal affirmed the Assessing Officer's method of proportionate allocation of interest expenses for the quantum of deduction under section 80J. The appeals were dismissed, confirming the reassessment validity and deduction quantum for both years. Case-Laws Income Tax Fri, 15 May 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60936