https://www.taxtmi.com/caselaws?id=295759 The Tribunal upheld the CIT(A)'s decision to cancel the assessment u/s 153A of the I.T. Act, 1961, stating that issues finalized in original assessment proceedings cannot be disturbed unless fresh material is discovered during search or subsequent investigation. Additionally, the Tribunal affirmed the deletion of depreciation disallowance by the CIT(A) as the issue had already been decided in favor of the assessee during the original assessment. The Tribunal dismissed all seven appeals by the Revenue, confirming the CIT(A)'s orders for assessment years 2001-02 to 2007-08, emphasizing the principle that finalized issues cannot be re-agitated under section 153A without new evidence. en-us Fri, 11 Sep 2009 00:00:00 +0530 Fri, 18 Jun 2021 14:24:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295759 The Tribunal upheld the CIT(A)'s decision to cancel the assessment u/s 153A of the I.T. Act, 1961, stating that issues finalized in original assessment proceedings cannot be disturbed unless fresh material is discovered during search or subsequent investigation. Additionally, the Tribunal affirmed the deletion of depreciation disallowance by the CIT(A) as the issue had already been decided in favor of the assessee during the original assessment. The Tribunal dismissed all seven appeals by the Revenue, confirming the CIT(A)'s orders for assessment years 2001-02 to 2007-08, emphasizing the principle that finalized issues cannot be re-agitated under section 153A without new evidence. Case-Laws Income Tax Fri, 11 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295759