https://www.taxtmi.com/caselaws?id=217673 The Tribunal upheld the validity of reassessment under Section 147 of the Income Tax Act, ruling that it was not a case of change of opinion but based on findings from subsequent assessments. It held that expenses for acquiring limited rights to use land for laying down the pipeline were not eligible for depreciation as they were not part of plant and machinery costs. The Tribunal differentiated between various expenses, allowing depreciation on crop compensation but disallowing it on right of use in land, while permitting depreciation on Right of Way expenses excluding security deposits and crop costs. The Tribunal dismissed the assessee's appeals and partly allowed the Revenue's appeals. en-us Fri, 28 Sep 2012 00:00:00 +0530 Mon, 22 Oct 2012 21:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217673 The Tribunal upheld the validity of reassessment under Section 147 of the Income Tax Act, ruling that it was not a case of change of opinion but based on findings from subsequent assessments. It held that expenses for acquiring limited rights to use land for laying down the pipeline were not eligible for depreciation as they were not part of plant and machinery costs. The Tribunal differentiated between various expenses, allowing depreciation on crop compensation but disallowing it on right of use in land, while permitting depreciation on Right of Way expenses excluding security deposits and crop costs. The Tribunal dismissed the assessee's appeals and partly allowed the Revenue's appeals. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217673