https://www.taxtmi.com/caselaws?id=268489 The Tribunal partially allowed the appeals, upholding the reopening of assessments due to income escapement and disallowing excess deduction under Section 36(1)(viii). The AO was directed to verify the taxation of the withdrawn reserve amount. The Tribunal allowed the assessee's claim for higher depreciation on reclassified assets, classifying them under 'Plant and Machinery' and allowing depreciation at 15%. The decision was pronounced on 09/10/2015. en-us Fri, 09 Oct 2015 00:00:00 +0530 Fri, 27 Nov 2015 10:54:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268489 The Tribunal partially allowed the appeals, upholding the reopening of assessments due to income escapement and disallowing excess deduction under Section 36(1)(viii). The AO was directed to verify the taxation of the withdrawn reserve amount. The Tribunal allowed the assessee's claim for higher depreciation on reclassified assets, classifying them under 'Plant and Machinery' and allowing depreciation at 15%. The decision was pronounced on 09/10/2015. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268489