Rectification under section 154 and reopening under section 147 scrutinised: rectification cannot re-compute depreciation; reopening vitiated.

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....Rectification proceedings invoked to recompute depreciation were held beyond the scope of the apparent mistake remedy because such powers address only manifest errors on the record and not detailed re-assessment; consequence: rectification to re-compute depreciation is invalid. Reopening of assessment was invalidated where the reasons and supervisory approval relied on incorrect AY references and unchecked figures, demonstrating non-application of mind and reliance on irrelevant information; consequence: the reopening notice vitiated for want of proper jurisdictional foundation and in favour of the assessee.....