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2008 (6) TMI 342 - HC - Income TaxRevision-Capital Gain- The assessment originally completed was reopened on three grounds. In the first place, the Commissioner noticed that since the assessee had not filed returns or claimed depreciation for the theatre building for several years, depreciation should not be reckoned in the computation of capital gains on the sale of the theatre building. Held that- there was no justification for the Tribunal to interfere with the section 263 order merely because different High Court had taken different views in the matter. Since the Tribunal had not considered the issue on the merits of the order of the Tribunal was liable to se aside and matter was remanded to the officer.
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