Friday 23 October 2015

No reassessment for disallowing excess claim of depreciation if AO had such details during assessmen

IT: Where information regarding assessee's claim of enhanced depreciation in view of re-estimation of written down value of its assets over remaining useful life was with Assessing Officer at time of passing assessment order, reopening of assessment beyond four years from relevant assessment year on ground that claim of additional depreciation had reduced book profit under section 115JB was without jurisdiction

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