The assessee had claimed depreciation from assessment year 2015-16 and same had been accepted during the course of regular assessment for assessment years 2015-16 and 2016-17. On writ against the issue of notice for reassessment the\u00a0 High Court held that the Assessing Officer could not have reopened assessment for subsequent years on same facts which were earlier available with the Assessing Officer during the previous two years of 2015-16 and 2016-17. Furthermore, audit objection could be considered for reopening assessment as part of ‘information’, however, merely because audit objection was raised, Assessing Officer was not bound to issue reopening notice merely by reiterating to what was stated in audit objection and ignoring facts and contents of reply filed by assessee Additionally, there was non-application of mind on part of Assessing Officer and notice issued under section 148A(b) and 148 as well as impugned order passed under section 148A(d) were set aside. On SLP by the revenue, the Court held that the High Court had not erred in quashing the show cause notice and, thus, the SLP filed by the revenue was dismissed.\u00a0 (AY. 2017-18 & 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Depreciation-Goodwill-Audit objection-Non-application of mind-Order of High Court affirmed-SLP of revenue dismissed. [S. 32, 148A(b), 148A(d), Art. 136] <\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64153","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gGJ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64153","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=64153"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64153\/revisions"}],"predecessor-version":[{"id":64154,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64153\/revisions\/64154"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}