https://www.taxtmi.com/caselaws?id=757379 HC held that reopening assessment under section 147 was unjustified and allowed the assessee's appeal. The court found depreciation at 30% on tippers was not permissible because the assessee conducted mining/excavation contracting, not hiring of motor lorries. A binding HC precedent on identical facts prevented the AO from treating available information as escapement of income. The assessee had fully disclosed material facts in the original assessment and the AO's reopening amounted to a mere change of opinion. en-us Tue, 06 Aug 2024 00:00:00 +0530 Sat, 20 Sep 2025 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757379 HC held that reopening assessment under section 147 was unjustified and allowed the assessee's appeal. The court found depreciation at 30% on tippers was not permissible because the assessee conducted mining/excavation contracting, not hiring of motor lorries. A binding HC precedent on identical facts prevented the AO from treating available information as escapement of income. The assessee had fully disclosed material facts in the original assessment and the AO's reopening amounted to a mere change of opinion. Case-Laws Income Tax Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757379