https://www.taxtmi.com/caselaws?id=211711 The High Court upheld the reassessment initiated by the Assessing Officer under Section 147/148 of the Income Tax Act, 1961, focusing on the addition of Rs. 46,23,435 for excess depreciation claimed by the respondent on plant and machinery. The court found that the appellant failed to adequately substantiate the claim, leading to the acceptance of the appeal by the Revenue and remand for further review. The decision emphasized the necessity of thorough evaluation of reasons for reassessment and supporting evidence in such cases. en-us Wed, 29 Feb 2012 00:00:00 +0530 Wed, 18 Jul 2012 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211711 The High Court upheld the reassessment initiated by the Assessing Officer under Section 147/148 of the Income Tax Act, 1961, focusing on the addition of Rs. 46,23,435 for excess depreciation claimed by the respondent on plant and machinery. The court found that the appellant failed to adequately substantiate the claim, leading to the acceptance of the appeal by the Revenue and remand for further review. The decision emphasized the necessity of thorough evaluation of reasons for reassessment and supporting evidence in such cases. Case-Laws Income Tax Wed, 29 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211711