M/S. SWARAJ ENGINES LTD. vs ASST.COMMNR.,INCOME TAX, CHANDIGARH &ANR

The Supreme Court directed the Income Tax Appellate Tribunal, Chandigarh, to examine the validity of the notice dated 20th March 2002 regarding the reopening of assessment under the Income Tax Act, 1961, specifically Section 80-I. The Court noted that the CIT(A) had allowed a deduction for the Assessment Year 1997-98 but did not address the validity of the reopening. The Civil Appeal was disposed of with interim orders continuing until the Tribunal's decision.