Tangible material required to reopen assessment u/s 148 of Income Tax Act,1961

Brief about the case The petitioner is a private limited company carrying on business of manufacture and sale of readymade garments and export of the same. The said Company is an approved 100% (Export Oriented Unit) EOU and thereby it filed its return after claiming exemption u/s 10B of the Income Tax Act for the assessment years 2007-08, 2008-09, 2009-10. The same were accepted under Section 143(1)(a) of the I.T.Act, 1961. Thereafter, each case was selected for a detailed scrutiny and an assessment was made under Section 143(3) on 24.11.2009 allowing recomputed exemption under Section 10B and...