https://www.taxtmi.com/caselaws?id=70402 The Tribunal concluded that the assessee had fully disclosed all material facts regarding the additional levy price, as evidenced by the Auditor's Report and Directors' Report. It was held that there was no failure to disclose necessary information, leading to the cancellation of the reassessment under Section 147(a) of the Income-tax Act. Additionally, the Tribunal found that the withdrawal of excess depreciation was unjustified, as the initial grant of depreciation was a decision of the Income-tax Officer and could not be restricted based on a change of opinion. As a result, the appeal of the Revenue was dismissed. en-us Thu, 17 May 1990 00:00:00 +0530 Sat, 16 Apr 2011 10:01:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70402 The Tribunal concluded that the assessee had fully disclosed all material facts regarding the additional levy price, as evidenced by the Auditor's Report and Directors' Report. It was held that there was no failure to disclose necessary information, leading to the cancellation of the reassessment under Section 147(a) of the Income-tax Act. Additionally, the Tribunal found that the withdrawal of excess depreciation was unjustified, as the initial grant of depreciation was a decision of the Income-tax Officer and could not be restricted based on a change of opinion. As a result, the appeal of the Revenue was dismissed. Case-Laws Income Tax Thu, 17 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70402