https://www.taxtmi.com/caselaws?id=240780 The Tribunal upheld the validity of the assessment proceedings despite a belated notice under S.143(2), citing S.292BB as a curable mistake. The claim for depreciation was rejected as the business was not operational by the relevant assessment year. Additional income items were validly included in the reassessment under S.147, per Explanation 3. Certain preliminary expenditures were disallowed, with directions to consider amortization under S.35B. The appellant's appeal was dismissed, affirming lower authorities' decisions. The judgment was pronounced on 20th December 2011. en-us Tue, 20 Dec 2011 00:00:00 +0530 Thu, 12 Dec 2013 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240780 The Tribunal upheld the validity of the assessment proceedings despite a belated notice under S.143(2), citing S.292BB as a curable mistake. The claim for depreciation was rejected as the business was not operational by the relevant assessment year. Additional income items were validly included in the reassessment under S.147, per Explanation 3. Certain preliminary expenditures were disallowed, with directions to consider amortization under S.35B. The appellant's appeal was dismissed, affirming lower authorities' decisions. The judgment was pronounced on 20th December 2011. Case-Laws Income Tax Tue, 20 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240780