Monday, 8 July 2013

Reassessment after 4 years to disallow carry forward of unabsorbed depreciation quashed

IT : Where assessee disclosed all material facts truly and fully which were necessary to complete assessment, in such a case, Assessing Officer could not initiate reassessment proceedings after expiry of four years from end of relevant assessment year taking a view that assessee's claim for carry forward of unabsorbed depreciation was not allowable


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