Reassessment Invalid as Lower Depreciation Claim Caused No Income Escapement: Gujarat HC

Pandesara Infrastructure Limited Vs ACIT (Gujarat High Court) Section 148 Notice Set Aside Because Higher Depreciation Did Not Increase Tax Liability; Gujarat HC Quashes Reassessment as No Escapement of Income Was Established; High Court Quashes Section 148 Proceedings Because MAT Liability Remained Unchanged; Section 147 Reopening Fails Because Assessment Was Reopened on Mere Change of Opinion. The Gujarat High Court allowed a writ petition challenging the notice dated 28.06.2025 issued under Section 148 and the order dated 28.06.2025 passed under Section 148A(3) of the Income-tax Act, 1961 ...