https://www.taxtmi.com/highlights?id=68214 Initiation of reassessment proceedings - AO has nowhere brought out as to how the claim of depreciation at higher level in the original assessment proceedings can be construed as failure of the assessee to disclose fully and truly all facts necessary for assessment. It is only change of the opinion by the AO, which in our considered opinion, cannot lead to initiation of reassessment proceedings after a period of four years from the end of the relevant assessment year. - AT en-us Fri, 10 Feb 2023 11:53:02 +0530 Fri, 10 Feb 2023 11:53:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68214 Initiation of reassessment proceedings - AO has nowhere brought out as to how the claim of depreciation at higher level in the original assessment proceedings can be construed as failure of the assessee to disclose fully and truly all facts necessary for assessment. It is only change of the opinion by the AO, which in our considered opinion, cannot lead to initiation of reassessment proceedings after a period of four years from the end of the relevant assessment year. - AT Highlights Income Tax Fri, 10 Feb 2023 11:53:02 +0530 https://www.taxtmi.com/highlights?id=68214