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2016 (1) TMI 85 - GUJARAT HIGH COURTReopening of assessment - Held that:- Assessing Officer had pressed in service two elements for issuing notice for reopening. First was with respect to the disallowance of expenditure under section 14A of the Act. Such issue was examined by the Assessing Officer in the original order of assessment and made suitable disallowances. The Tribunal therefore, correctly held that any reconsideration of the issue would only amount to change of opinion. With respect to the second element namely, of non addition of FBT benefit tax while considering the book profit for the purpose of section 115JB of the Act, the Tribunal noted that the CBDT in the circular dated 29.8.2005 clarified that FBT is an allowable deduction for computation of book profit under section 115JB of the Act. That being the position, the Tribunal was correct in holding that the reopening was invalid. - Decided in favour of assessee
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