Reopening Invalid as No Fresh Material; Full Depreciation Allowed on Office

New Rampgreen Technologies Pvt. Ltd. Vs ITO (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT) Mumbai has issued a significant ruling in the case of New Rampgreen Technologies Pvt. Ltd. against the Income Tax Officer (ITO), primarily addressing disputes over depreciation claims and the validity of reassessment proceedings. The Tribunal’s order, pronounced on June 20, 2025, sided with the appellant on both contested grounds. The core of the dispute originated from an assessment reopened by the Revenue under Section 148 of the Income Tax Act, 1961, alleging escapement of income due to an a...