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2013 (10) TMI 101 - HC - Income TaxReassessment u/s 147 - issuance of notice u/s 148 beyond four years - issue regarding adjustments u/s 115JB regarding unabsorbed depreciation or unabsorbed business loss, whichever is lower – Held that:- Assuming that there is a different angle that needed to be examined by the Assessing Officer from the material which was already existing on the record, as held in case of Jivraj Tea & Industries Ltd. (2013 (7) TMI 544 - GUJARAT HIGH COURT), here also we find that specific angle of depreciation earlier claimed; if was not in the mind of the Assessing Officer, nevertheless, when entire details were already made available at the time of original assessment, this ground cannot be validated. In the scrutiny assessment when the very issue has been examined thoroughly, the notice for reopening lacks validity and therefore on jurisdictional issue, this petition deserves to be allowed. – Decided in favor of Assessee.
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