https://www.taxtmi.com/caselaws?id=287800 The Tribunal upheld the reassessment proceedings under section 147, affirming the AO's compliance with statutory conditions. It allowed the claim for additional depreciation under section 32(1)(iia) for Wind Electric Generators, recognizing electricity as goods. The levy of interest under section 234B was upheld, subject to Karnataka HC's interpretation. The assessee's appeal was partly allowed. en-us Tue, 16 May 2017 00:00:00 +0530 Thu, 14 Nov 2024 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287800 The Tribunal upheld the reassessment proceedings under section 147, affirming the AO's compliance with statutory conditions. It allowed the claim for additional depreciation under section 32(1)(iia) for Wind Electric Generators, recognizing electricity as goods. The levy of interest under section 234B was upheld, subject to Karnataka HC's interpretation. The assessee's appeal was partly allowed. Case-Laws Income Tax Tue, 16 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287800