2006 (2) TMI 60

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.... filed by the petitioner challenging the orders of the Assessing Officer declining to rectify income-tax assessments applied for by the petitioner under section 154 of the Income-tax Act, 1961, for the years 1992-93 to 1996-97. Assessments for these years were originally completed under section 143(1A) of the Act granting depreciation based on the written down value declared by the petitioner in t....

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....stake in the subsequent assessments for grant of depredation, which was declined by the Assessing Officer on the ground that there was no mistake apparent on the face of the record to rectify assessments under section 154 of the Income-tax Act. The Commissioner agreed with the Assessing Officer and declined the relief in revision petitions on the ground that assessments completed based on the retu....

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....y for the immediately preceding years, necessarily depreciation for the year 1992-93 and subsequent years has to be recomputed based on orders of the appellate authority for the preceding year. The findings of the authorities below that there cannot be mistake in respect of the written down value after filing of the returns is, therefore, incorrect. The mistake in the return, so far as the written....