https://www.taxtmi.com/caselaws?id=247506 The appeal challenged the re-opening of assessment under section 148 without a cogent reason and the application of section 115JB for determining book profit. The Tribunal held that the change in depreciation method was valid under the Companies Act, and the AO lacked power to make adjustments beyond section 115JB provisions. Relying on relevant case law, the Tribunal directed the AO to delete the addition made under section 115JB. The appeal was allowed in favor of the assessee, with the order pronounced on April 30, 2014. en-us Wed, 30 Apr 2014 00:00:00 +0530 Wed, 14 May 2014 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247506 The appeal challenged the re-opening of assessment under section 148 without a cogent reason and the application of section 115JB for determining book profit. The Tribunal held that the change in depreciation method was valid under the Companies Act, and the AO lacked power to make adjustments beyond section 115JB provisions. Relying on relevant case law, the Tribunal directed the AO to delete the addition made under section 115JB. The appeal was allowed in favor of the assessee, with the order pronounced on April 30, 2014. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247506