https://www.taxtmi.com/caselaws?id=787885 Reopening under Section 148 was sought to examine whether depreciation had been wrongly claimed on a drilling ship allegedly owned by another entity. The Court noted that the earlier appellate proceedings had addressed only the quantum of depreciation, not the threshold question of entitlement based on ownership. It treated ownership of the drilling ship as a question of fact best determined by the income-tax authorities and found no reason to interfere with the High Court's order. The special leave petition was dismissed. en-us Mon, 09 Mar 2026 00:00:00 +0530 Fri, 13 Mar 2026 08:36:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787885 Reopening under Section 148 was sought to examine whether depreciation had been wrongly claimed on a drilling ship allegedly owned by another entity. The Court noted that the earlier appellate proceedings had addressed only the quantum of depreciation, not the threshold question of entitlement based on ownership. It treated ownership of the drilling ship as a question of fact best determined by the income-tax authorities and found no reason to interfere with the High Court's order. The special leave petition was dismissed. Case-Laws Income Tax Mon, 09 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787885