https://www.taxtmi.com/caselaws?id=405442 The Tribunal allowed the assessee's appeal, directing the AO to pass distinct and separate assessment orders instead of a combined one. The reassessment proceedings initiated beyond the 4-year period were upheld, citing jurisdiction to reopen due to the belief of escaped income. Additional grounds were admitted for adjudication without the need for fresh facts. The reassessment based on an audit objection was deemed invalid as a change of opinion, and the non-grant of depreciation on goodwill was addressed by ordering separate assessment orders for clarity and proper adjudication. en-us Thu, 18 Mar 2021 00:00:00 +0530 Sun, 21 Mar 2021 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405442 The Tribunal allowed the assessee's appeal, directing the AO to pass distinct and separate assessment orders instead of a combined one. The reassessment proceedings initiated beyond the 4-year period were upheld, citing jurisdiction to reopen due to the belief of escaped income. Additional grounds were admitted for adjudication without the need for fresh facts. The reassessment based on an audit objection was deemed invalid as a change of opinion, and the non-grant of depreciation on goodwill was addressed by ordering separate assessment orders for clarity and proper adjudication. Case-Laws Income Tax Thu, 18 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405442