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2018 (8) TMI 1619 - AT - Income TaxReopening of assessment u/s 147 - Held that:- CIT(A) instead of agreeing with assessee on the grounds and allowing the grounds, in our view has wrongly confirmed the order and dismissed the ground. It is true that this issue has been examined in earlier years and also in the impugned assessment year at the time of original assessment. Not only that, Ld.CIT(A) herself has allowed the grounds of assessee on merits which the Revenue is contesting. Since the very basis for reopening the assessment is based on the information already on record and since this was already examined by the AO in the regular proceedings u/s. 143(3), we are of the opinion that the reopening of assessment is not based on any tangible material but only on the change of opinion on the existing material, for which the AO has no power to do so. The principles laid down by the Hon'ble Supreme Court [2010 (1) TMI 11 - SUPREME COURT OF INDIA] clearly applies to the facts of the case. Therefore, we modify the order of the CIT(A) and allow the grounds of assessee. In a way this issue is also academic since Ld. CIT(A) allowed the assessee contentions on merit. Depreciation on technical know-how and DMFs - Held that:- Assessee's claim of depreciation becomes eligible as it is an intangible asset on which assessee has claimed depreciation on WDV. In view of this, we direct the AO to allow the depreciation as claimed as it is only a consequential claim to the claims in earlier years
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