https://www.taxtmi.com/caselaws?id=415147 The High Court upheld the Tribunal's decision that incriminating material is necessary for reopening assessments under Section 153A of the Income Tax Act. The Court emphasized that without such material, the Assessing Officer cannot disturb a concluded assessment. The Court also upheld the allowance of depreciation on capitalization of expenditure and the remand of matters to CIT (A) for examination of incriminating material. The appeals were disposed of in favor of the assessee, with specific issues addressed based on previous judicial precedents and interpretations of the relevant sections of the Income Tax Act. en-us Wed, 29 Sep 2021 00:00:00 +0530 Thu, 04 Aug 2022 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415147 The High Court upheld the Tribunal's decision that incriminating material is necessary for reopening assessments under Section 153A of the Income Tax Act. The Court emphasized that without such material, the Assessing Officer cannot disturb a concluded assessment. The Court also upheld the allowance of depreciation on capitalization of expenditure and the remand of matters to CIT (A) for examination of incriminating material. The appeals were disposed of in favor of the assessee, with specific issues addressed based on previous judicial precedents and interpretations of the relevant sections of the Income Tax Act. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415147