https://www.taxtmi.com/caselaws?id=273073 The Tribunal set aside the Principal CIT's orders invoking Section 263 and reinstated the assessment orders by the AO under Section 153A read with Section 143(3). The appeals were allowed or partly allowed, emphasizing that the AO's actions were not erroneous and the CIT exceeded jurisdiction without notifying the assessee. The Tribunal clarified that businesses generating electricity were entitled to additional depreciation even before a specific amendment. Additionally, it was held that no additions could be made for unabated assessments without incriminating material found during a search. en-us Wed, 27 Sep 2017 00:00:00 +0530 Sat, 02 Jun 2018 13:25:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273073 The Tribunal set aside the Principal CIT's orders invoking Section 263 and reinstated the assessment orders by the AO under Section 153A read with Section 143(3). The appeals were allowed or partly allowed, emphasizing that the AO's actions were not erroneous and the CIT exceeded jurisdiction without notifying the assessee. The Tribunal clarified that businesses generating electricity were entitled to additional depreciation even before a specific amendment. Additionally, it was held that no additions could be made for unabated assessments without incriminating material found during a search. Case-Laws Income Tax Wed, 27 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273073