Court Reprimands Tax Officer for Unjustified Reassessment of SEZ Unit's Foreign Exchange Gains u/s 147 & 10AA.

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....Reopening of assessment u/s 147 - exemption u/s 10AA - SEZ unit - Source of profit derived - foreign exchange fluctuation gain - This case can be no better example of a case where an Officer at the drop of the hat has sought to change his opinion which is contrary to the decision of the Supreme Court - HC....