Assessment was sought to be reopened in case of assessee on ground that revenue received certain information from Directorate of Income Tax, Intelligence & Criminal Investigation, Chennai, from where it was found that acquisition of Brands and Goodwill as claimed by assessee was incorrect and said transfer had not been established and thus, assessee had claimed incorrect depreciation. On writ allowing the petition the Court held that facts pertaining to acquisition of Goodwill, trademarks and Patents and Brands were not only available before Assessing Officer at time of original assessment, but were also analysed by him during course of assessment proceedings.\u00a0 Assessing Officer after considering all points passed assessment order, accepting fact that transfer had been established and there was proper acquisition of Brands and Goodwill, as claimed by assessee. Hence\u00a0\u00a0 where on consideration of material on record, one view was conclusively taken by Assessing Officer, it would not be open to reopen assessment based on very same material with a view to take another view. Notice for reassessment was quashed.\u00a0 (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-With in four years-Depreciation-Information from Directorate of Income Tax, Intelligence & Criminal Investigation-Goodwill, trademarks and patents and Brands-Reopening of assessment on basis of very same material to take a different view was not justified-Reassessment notice was quashed. [S. 32, 148, Art, 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29309","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7CJ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29309"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29309\/revisions"}],"predecessor-version":[{"id":29983,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29309\/revisions\/29983"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}