[aaykarbhavan] Reassessment upheld as assessee failed to show that change in depreciation policy was in conformity with AS

Reassessment upheld as assessee failed to show that change in depreciation policy was in conformity with AS

March 19, 2015[2015] 55 taxmann.com 203 (Mumbai - Trib.)

IT : Where assessment in case of assess-company was completed under section 143(3) read with section 115JB accepting returned loss, in view of fact that assessee had not produced requisite record to show that changes made in depreciation policy was in conformity with accounting standards as required under provisions of Companies Act, Assessing Officer was justified in initiating reassessment proceedings

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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