{"id":35242,"date":"2023-08-01T16:48:39","date_gmt":"2023-08-01T11:18:39","guid":{"rendered":"https:\/\/itatonline.org\/digest\/milton-plastics-ltd-v-mudit-nagpal-2023-151-taxmann-com-24-bomhc\/"},"modified":"2023-12-25T10:24:39","modified_gmt":"2023-12-25T04:54:39","slug":"milton-plastics-ltd-v-mudit-nagpal-2023-151-taxmann-com-24-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/milton-plastics-ltd-v-mudit-nagpal-2023-151-taxmann-com-24-bomhc\/","title":{"rendered":"Milton Plastics Ltd. v. Mudit Nagpal [2023] 293 Taxman 357  \/151 taxmann.com 24 (Bom)(HC)"},"content":{"rendered":"<p>Allowing the petition, the Court held that where transactions of sale and lease back of machinery on which depreciation at rate of 100 per cent was claimed was disclosed with enough details and there was no allegation of non-disclosure of primary facts on part of assessee, impugned reopening of assessment after 4 years was unjustified. Reassessment notice and order disposing the objection was quashed. (AY. 1997-98)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment \u2013 After the expiry of four years &#8211; Sale and lease back -100 percent depreciation \u2013 No failure to disclose material facts \u2013 Reassessment notice and order disposing the objection was set aside. [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-35242","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9aq","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35242","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=35242"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35242\/revisions"}],"predecessor-version":[{"id":38178,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35242\/revisions\/38178"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=35242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=35242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}