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2015 (9) TMI 1689 - ITAT CHENNAIReopening of assessment - "change of opinion" - rate of depreciation on “water supply & drainage” and some part of the block of asset viz., the value of non-productive assets - claim of excess rate of depreciation on the on-productive assets is being restricted @ 10% instead of 15% - HELD THAT:- There is a change of opinion by the AO for the purpose of reopening the assessment u/s.147. As held by the Supreme Court in the case of Kelvinator India Ltd. [2002 (4) TMI 37 - DELHI HIGH COURT] mere change in opinion would not confer jurisdiction upon the AO to initiate a proceeding u/s.147 of the Act. Therefore, we uphold the order of the CIT(Appeals) on this issue and quash the assessment order passed u/s.147 - Decided against revenue.
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