The ITAT ruled in favor of the assessee on multiple issues....

The ITAT ruled in favor of the assessee on multiple issues. Interest on GST and late filing fees was held to be allowable as a deduction under section 37, following Supreme Court precedent in Mahalakshmi Sugar Mills that interest paid to government for delayed payments cannot be characterized as a penalty. The Tribunal upheld higher depreciation rates of 30% on dumpers and tippers used for transportation in mining operations, finding the assessee had fulfilled necessary conditions for the enhanced rate. Similarly, the ITAT confirmed the CIT(A)'s decision allowing 40% depreciation on certain motor vehicles used for hire. Finally, the Tribunal deleted an addition under section 69C for alleged unexplained expenditure, as it was based solely on an unsigned Excel sheet recovered from a third party without corroborative evidence.