https://www.taxtmi.com/caselaws?id=61525 Excise duty is not includible in total turnover for computing deduction under section 80HHC because statutory levies collected on behalf of the State do not form part of business profit and their inclusion would distort the export-weighted formula. Reassessment beyond four years is impermissible unless the Revenue shows failure by the assessee to disclose fully and truly all material facts; where the original assessment already contained the relevant accounts and turnover figures, reopening based only on a different view of the same material is a mere change of opinion and is without jurisdiction. en-us Wed, 28 Aug 2002 00:00:00 +0530 Thu, 13 Jan 2011 11:24:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61525 Excise duty is not includible in total turnover for computing deduction under section 80HHC because statutory levies collected on behalf of the State do not form part of business profit and their inclusion would distort the export-weighted formula. Reassessment beyond four years is impermissible unless the Revenue shows failure by the assessee to disclose fully and truly all material facts; where the original assessment already contained the relevant accounts and turnover figures, reopening based only on a different view of the same material is a mere change of opinion and is without jurisdiction. Case-Laws Income Tax Wed, 28 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61525