https://www.taxtmi.com/caselaws?id=365516 The court upheld the reassessment proceedings under Section 147 of the Income Tax Act, 1961, ruling that there was no mere change of opinion. It found that the absence of specific discussions or conclusions in the original assessment order on the issues being challenged justified the reassessment. The court rejected the appellant's arguments regarding prior period depreciation, prepayment premium treatment, excess depreciation on Plant and Machinery, and excess depreciation on the intangible asset "Brand Name." The court dismissed the writ appeal, affirming the validity of the reassessment. en-us Fri, 06 Jul 2018 00:00:00 +0530 Thu, 20 Dec 2018 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365516 The court upheld the reassessment proceedings under Section 147 of the Income Tax Act, 1961, ruling that there was no mere change of opinion. It found that the absence of specific discussions or conclusions in the original assessment order on the issues being challenged justified the reassessment. The court rejected the appellant's arguments regarding prior period depreciation, prepayment premium treatment, excess depreciation on Plant and Machinery, and excess depreciation on the intangible asset "Brand Name." The court dismissed the writ appeal, affirming the validity of the reassessment. Case-Laws Income Tax Fri, 06 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365516