https://www.taxtmi.com/caselaws?id=57501 The appeals filed by the assessee were partially allowed. The reassessment proceedings under section 147(b) were deemed valid, separate assessments were directed for the old and new firms under section 188, and depreciation was to be allowed based on the enhanced value of the assets. en-us Wed, 31 May 1995 00:00:00 +0530 Fri, 10 Dec 2010 15:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57501 The appeals filed by the assessee were partially allowed. The reassessment proceedings under section 147(b) were deemed valid, separate assessments were directed for the old and new firms under section 188, and depreciation was to be allowed based on the enhanced value of the assets. Case-Laws Income Tax Wed, 31 May 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57501