https://www.taxtmi.com/caselaws?id=390609 The Court held that the reassessment proceedings were time-barred under Section 147 of the Income Tax Act, as the reasons for reassessment were based on available records and all material particulars for the deduction claim were on file. The Court concluded that the reassessment was barred by limitation, citing relevant case law. Consequently, the reassessment concerning the deduction claim was quashed, but the reassessment regarding depreciation on an imported car was confirmed as it was not challenged. The writ petition was partially allowed, with costs not imposed. en-us Thu, 17 Oct 2019 00:00:00 +0530 Tue, 07 Jan 2020 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390609 The Court held that the reassessment proceedings were time-barred under Section 147 of the Income Tax Act, as the reasons for reassessment were based on available records and all material particulars for the deduction claim were on file. The Court concluded that the reassessment was barred by limitation, citing relevant case law. Consequently, the reassessment concerning the deduction claim was quashed, but the reassessment regarding depreciation on an imported car was confirmed as it was not challenged. The writ petition was partially allowed, with costs not imposed. Case-Laws Income Tax Thu, 17 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390609