TaxTMI 
TaxTMI 
2013 (7) TMI 320
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....both the cases are identical, both the cases are being decided by this common order. 2. These appeals have been preferred by the Revenue against the orders passed by the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal, Indore by which the assessment orders framed under section 147/143(3) of the Income Tax Act were set aside by the authorities. 3. Brief facts of the cas....
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....bed depreciation. The assessing officer was of the opinion that the aforesaid adjustment was wrongly made by the assessee and on the aforesaid ground the assessing officer was of the opinion that the income of the assessee was wrongly shown in the return. The assessment order was an escaped assessment within the meaning of provisions of section 147 of the Act. On the aforesaid reasons, the assessi....
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....it was not an escaped assessment. The income was truly and correctly disclosed with all material facts by the assessee, so the notice under section 148 could not have been issued. On the aforesaid ground, the appellate authority allowed the appeal. 5. The Revenue challenged the order of the Commissioner of Income Tax (Appeals) before the Income Tax Appellate Tribunal by filing an appeal. The Trib....
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....and unabsorbed depreciation and that there was no error in the calculation of the assessee and it was not a case of escapement of income and the initiation of proceedings under section 148 were not justified. On the aforesaid grounds, the appeal has been dismissed by the ITAT. 6. Learned counsel for the appellant submits that these appeals involve substantial questions of law for consideration of....