Tuesday, 17 March 2015

No denial of set-off losses of amalgamating Co. against book profit of assessee due to change of opi

IT: Where Assessing Officer allowed assessee's claim for set off of loss of company amalgamated with it against its book profits while determining MAT liability, he could not initiate reassessment proceedings subsequently merely on basis of change of opinion that aforesaid loss was wrongly set off


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