https://www.taxtmi.com/caselaws?id=169153 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal. It affirmed the allowance of 80% depreciation on wind mills and deemed the reassessment under section 147 as invalid. The AO's lack of valid reasons to believe income escapement led to the conclusion that the reassessment was unfounded, as the depreciation was consistent with previous years and did not require a specific form for the claimed percentage. en-us Thu, 31 Jul 2014 00:00:00 +0530 Mon, 06 Apr 2015 22:04:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169153 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal. It affirmed the allowance of 80% depreciation on wind mills and deemed the reassessment under section 147 as invalid. The AO's lack of valid reasons to believe income escapement led to the conclusion that the reassessment was unfounded, as the depreciation was consistent with previous years and did not require a specific form for the claimed percentage. Case-Laws Income Tax Thu, 31 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169153