https://www.taxtmi.com/caselaws?id=68233 Reassessment under the amended section 147/148 scheme was upheld as valid and within limitation, with the second notice curing a technical defect in the first. Investment allowance under section 32A was accepted for a small scale industrial unit where industrial recognition supported the assessee's status, subject to verification of statutory conditions. A fresh claim for 100 per cent depreciation on bottles and crates was rejected because reassessment cannot be used to raise an unrelated claim not made in the original return. Higher depreciation at 30 per cent on generators was allowed on the applicable depreciation classification. Interest under sections 216 and 217 was confined to the date of regular assessment, since "regular assessment" does not include reassessment. en-us Wed, 25 Jan 2006 00:00:00 +0530 Mon, 28 Mar 2011 15:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68233 Reassessment under the amended section 147/148 scheme was upheld as valid and within limitation, with the second notice curing a technical defect in the first. Investment allowance under section 32A was accepted for a small scale industrial unit where industrial recognition supported the assessee's status, subject to verification of statutory conditions. A fresh claim for 100 per cent depreciation on bottles and crates was rejected because reassessment cannot be used to raise an unrelated claim not made in the original return. Higher depreciation at 30 per cent on generators was allowed on the applicable depreciation classification. Interest under sections 216 and 217 was confined to the date of regular assessment, since "regular assessment" does not include reassessment. Case-Laws Income Tax Wed, 25 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68233