No reassessment if dep. on amortized brand value was allowed by AO after accepting assessee's explanation

INCOME TAX: Where details of amortization of brand value was provided by assessee in notes to balance sheet and profit and loss account and while computing books profit under section 115JB, depreciation was claimed on amortised value and in assessment Assessing Officer issued notice under section 142(1) and allowed same accepting assessee's explanation, subsequent reassessment on ground that there was no provision for deduction of depreciation for amortization not charged in profit and loss

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