https://www.taxtmi.com/caselaws?id=415934 The Tribunal allowed the appeal of the assessee, ruling that the Assessing Officer's reopening of the assessment under section 147 of the Income Tax Act was invalid as it was based on a mere change of opinion without fresh tangible material indicating income escapement. Consequently, the reassessment order was quashed, and the Tribunal did not address the merits of the issues regarding disallowance of depreciation on electrical installations, consequential additional depreciation, and inclusion of disallowed depreciation in subsequent years' block of assets. en-us Tue, 23 Nov 2021 00:00:00 +0530 Fri, 17 Dec 2021 08:53:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415934 The Tribunal allowed the appeal of the assessee, ruling that the Assessing Officer's reopening of the assessment under section 147 of the Income Tax Act was invalid as it was based on a mere change of opinion without fresh tangible material indicating income escapement. Consequently, the reassessment order was quashed, and the Tribunal did not address the merits of the issues regarding disallowance of depreciation on electrical installations, consequential additional depreciation, and inclusion of disallowed depreciation in subsequent years' block of assets. Case-Laws Income Tax Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415934