https://www.taxtmi.com/caselaws?id=226225 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeal) and rejected the Revenue's argument regarding the computation of depreciation based on the actual cost of assets without reducing the depreciation of earlier years. The Tribunal ruled that assessments for earlier years were final and could not be reopened, thereby dismissing the Revenue's appeals. The High Court affirmed the Tribunal's decision, emphasizing that the law was clear, leading to the dismissal of all three appeals by the Revenue. en-us Tue, 26 Mar 2013 00:00:00 +0530 Mon, 22 Apr 2013 08:15:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=226225 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeal) and rejected the Revenue's argument regarding the computation of depreciation based on the actual cost of assets without reducing the depreciation of earlier years. The Tribunal ruled that assessments for earlier years were final and could not be reopened, thereby dismissing the Revenue's appeals. The High Court affirmed the Tribunal's decision, emphasizing that the law was clear, leading to the dismissal of all three appeals by the Revenue. Case-Laws Income Tax Tue, 26 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=226225