https://www.taxtmi.com/caselaws?id=15547 The dominant issue was whether reassessment under s. 147(b) IT Act was without jurisdiction because the "information" was derived from an audit report concerning extra depreciation on leased plant and machinery. The HC held that extra depreciation is allowable only where machinery is installed in premises used by the assessee as an approved hotel; the audit party merely drew the ITO's attention to the applicable statutory provision without interpreting law, and therefore its report constituted "information" under s. 147(b). The availability of rectification or revision did not bar reassessment if s. 147(b) conditions were met. Consequently, the Tribunal's finding of lack of jurisdiction was set aside and the matter was remitted for decision on merits. en-us Fri, 19 Dec 1997 00:00:00 +0530 Tue, 30 Dec 2025 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15547 The dominant issue was whether reassessment under s. 147(b) IT Act was without jurisdiction because the "information" was derived from an audit report concerning extra depreciation on leased plant and machinery. The HC held that extra depreciation is allowable only where machinery is installed in premises used by the assessee as an approved hotel; the audit party merely drew the ITO's attention to the applicable statutory provision without interpreting law, and therefore its report constituted "information" under s. 147(b). The availability of rectification or revision did not bar reassessment if s. 147(b) conditions were met. Consequently, the Tribunal's finding of lack of jurisdiction was set aside and the matter was remitted for decision on merits. Case-Laws Income Tax Fri, 19 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15547