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2012 (2) TMI 284 - HC - Income TaxValidity of reopening of assessment previously framed after scrutiny beyond 4 years from the end of relevant A.Y. - wrong cliam of depreciation since business was yet to commence – no failure or omission on the part of the petitioner to furnish fully and truly all material facts – Held that:- Petitioner had disclosed full and true particulars relating to the claim of depreciation at the time of original assessment. The notice u/s 148 has been issued beyond the period of 4 years from the end of relevant A.Y. Therefore, primary jurisdictional condition for issue of such notice has not been satisfied – Decided in favor of assessee.
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