https://www.taxtmi.com/caselaws?id=204707 The High Court ruled in favor of the assessee against the Revenue, holding that the reopening of the assessment under section 147(a) of the Income-tax Act was not valid as the primary facts were disclosed. Additionally, the adjustment for depreciation based on the subsequent introduction of Schedule XIV to the Companies Act was deemed unjustified. The court also determined that the assessee was not obligated to provide depreciation as per Schedule XIV before the end of the accounting year. en-us Mon, 30 Nov 2009 00:00:00 +0530 Sat, 22 Dec 2012 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204707 The High Court ruled in favor of the assessee against the Revenue, holding that the reopening of the assessment under section 147(a) of the Income-tax Act was not valid as the primary facts were disclosed. Additionally, the adjustment for depreciation based on the subsequent introduction of Schedule XIV to the Companies Act was deemed unjustified. The court also determined that the assessee was not obligated to provide depreciation as per Schedule XIV before the end of the accounting year. Case-Laws Income Tax Mon, 30 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204707