Reassessment notice is quashed as changing depreciation rates on fully exempt income causes no tax escapement.
Reassessment notice is quashed as changing depreciation rates on fully exempt income causes no tax escapement. Reassessment notice is quashed as changing depreciation rates on fully exempt income causes no tax escapement. Issue Whether the tax department can validly initiate reassessment proceedings under Section 147/148 to adjust depreciation rates when the underlying business profit is… Read More »