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2010 (10) TMI 803 - PUNJAB AND HARYANA HIGH COURTNotice u/s 148 - Petitioner let out its plant and machinery and treated the income received to be 'business income - claimed deductions on the account of business expenses - Assessing Officer noticed that income of the assessee being from house property, business expenses could not be allowed to be deducted therefrom – Held that:- Reference may be made to CIT v. Rajesh Jhaveri (2007 -TMI - 6563 - SUPREME Court) noticing the scheme of law after 1.4.1989. The judgments relied upon do not deal with the case of reassessment after processing and are, thus, distinguishable. Plea of reassessment being illegal, when no satisfactory assessment was earlier made, cannot be accepted on the ground that the same was based on mere change of opinion
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