https://www.taxtmi.com/caselaws?id=189859 Reassessment under Section 147(a) was invalid where the original assessment had been completed under Section 143(3), depreciation had been allowed in earlier and later years, and no new material came before the Assessing Officer; the reopening amounted to a mere change of opinion and failed. The assessee was also entitled to depreciation at 40% on vehicles leased to third parties, because the Court applied its earlier view that higher depreciation is available for leased vehicles used in the business of running them on hire, including use through third parties. The Tribunal's view was upheld and the Revenue's appeal failed. en-us Wed, 27 Nov 2002 00:00:00 +0530 Mon, 23 Jan 2017 18:05:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189859 Reassessment under Section 147(a) was invalid where the original assessment had been completed under Section 143(3), depreciation had been allowed in earlier and later years, and no new material came before the Assessing Officer; the reopening amounted to a mere change of opinion and failed. The assessee was also entitled to depreciation at 40% on vehicles leased to third parties, because the Court applied its earlier view that higher depreciation is available for leased vehicles used in the business of running them on hire, including use through third parties. The Tribunal's view was upheld and the Revenue's appeal failed. Case-Laws Income Tax Wed, 27 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189859