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2014 (1) TMI 803 - HC - Income TaxWhether the retrospective amendment of law and subsequent judgment of apex court be a basis for reopening for assessment u/s 147 - Held that:- The assessee cannot be blamed for filing a return by contemplating a possible amendment to Section 80-HHC of the Act - One cannot state that there was an escaped assessment of tax which could be reopened within a period of four years from the end of the relevant assessment year - Subsequent amendments or subsequent interpretation of the statute is not a ground to reopen concluded transactions - Decided against Revenue.
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