https://www.taxtmi.com/caselaws?id=360974 The Tribunal quashed the impugned orders passed under section 263 of the Income Tax Act for assessment years 2009-10 and 2010-11, ruling them as barred by limitation and invalid. The appeals of the assessee were fully allowed. The Tribunal found that the exercise of jurisdiction under section 263 was not valid as the depreciation issue did not arise from the reassessment proceedings initiated under section 147 but from the original assessment order. Additionally, the Tribunal upheld the assessee's claim for depreciation on a building partly used for business and partly let out based on past acceptance and lack of changes in asset value. en-us Wed, 23 May 2018 00:00:00 +0530 Sun, 27 May 2018 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360974 The Tribunal quashed the impugned orders passed under section 263 of the Income Tax Act for assessment years 2009-10 and 2010-11, ruling them as barred by limitation and invalid. The appeals of the assessee were fully allowed. The Tribunal found that the exercise of jurisdiction under section 263 was not valid as the depreciation issue did not arise from the reassessment proceedings initiated under section 147 but from the original assessment order. Additionally, the Tribunal upheld the assessee's claim for depreciation on a building partly used for business and partly let out based on past acceptance and lack of changes in asset value. Case-Laws Income Tax Wed, 23 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360974