https://www.taxtmi.com/caselaws?id=60443 The Tribunal ruled in favor of the appellant-company, holding that the Assessing Officer's decision to reopen assessments based on a change of opinion regarding higher depreciation claimed for vehicles used for commercial hiring was unjustified. Citing various High Court and Supreme Court decisions, the Tribunal concluded that once all material facts were disclosed, reassessment could not be initiated solely on a change of opinion. As the relevant details had been previously considered, the Tribunal deemed the reassessment under section 147 as unwarranted, allowing the appellant's appeals. en-us Wed, 31 Dec 2003 00:00:00 +0530 Wed, 05 Jan 2011 13:10:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60443 The Tribunal ruled in favor of the appellant-company, holding that the Assessing Officer's decision to reopen assessments based on a change of opinion regarding higher depreciation claimed for vehicles used for commercial hiring was unjustified. Citing various High Court and Supreme Court decisions, the Tribunal concluded that once all material facts were disclosed, reassessment could not be initiated solely on a change of opinion. As the relevant details had been previously considered, the Tribunal deemed the reassessment under section 147 as unwarranted, allowing the appellant's appeals. Case-Laws Income Tax Wed, 31 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60443