Section 260

Sec. 260A

Bombay H.C : No opinion has been formed on the issue of allowing deduction u/s 80IC in respect of compo ent of “other income” which was not derived from industrial undertaking and therefore on this issue on which assessment is sought to be reopened, there was no question of “change of opinion” as held erroneously by the Tribunal and material available on record would form “tangible materials” to constitute “reason to believe” that income has escaped assessment at the time of reopening of assessment

High Court Of Bombay Pr.CIT vs. Century Textiles & Industries Ltd. Section 260-A Asst. Year 2007-08 M.S.Sanklecha & Sandeep K.

Sec. 260A

Allahabad H.C : A.Y. 2007-08 on account of Sundry Creditory relying on the credit balances shown in A.Y. 2008-09 which were not disputed by the department ignoring the law that the principle of res judicata is not applicable in Income Tax. Further, once the addition on account of unexplained credit added in A.Y. 2007-08 the same amount could not be added in A.Y. 2008-09

High Court Of Allahabad CIT vs. Vishal Transformers And Switchgears Pvt. Ltd. Section 260-A Asst. Year 2007-08 Bharati Sapru &

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