https://www.taxtmi.com/caselaws?id=248245 The court quashed the notice for reopening the assessment as the petitioner was allowed to carry forward unabsorbed depreciation indefinitely post the Finance Act, 2001, based on the General Motors India P. Ltd. case precedent. The court emphasized that the Assessing Officer's reopening was a change of opinion, not permissible under law. Procedural directions were issued to streamline assessment reopening processes, emphasizing timely objections and disposal to prevent last-minute rushes and ensure thorough scrutiny, reducing unnecessary appeals and judicial strain. en-us Mon, 31 Mar 2014 00:00:00 +0530 Mon, 09 Feb 2015 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248245 The court quashed the notice for reopening the assessment as the petitioner was allowed to carry forward unabsorbed depreciation indefinitely post the Finance Act, 2001, based on the General Motors India P. Ltd. case precedent. The court emphasized that the Assessing Officer's reopening was a change of opinion, not permissible under law. Procedural directions were issued to streamline assessment reopening processes, emphasizing timely objections and disposal to prevent last-minute rushes and ensure thorough scrutiny, reducing unnecessary appeals and judicial strain. Case-Laws Income Tax Mon, 31 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248245