Friday 31 May 2013

AO can’t initiate reassessment to cut down sec. 10B exemption merely on change of opinion

IT : Where assessee's claim for exemption under section 10B was allowed after scrutinising it in detail, subsequently Assessing Officer could not initiate reassessment proceedings merely on basis of change of opinion that apportionment of expenses between two units of assessee i.e. EOU and non-eligible unit, was not proper


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