https://www.taxtmi.com/caselaws?id=61578 The tribunal upheld the disallowance of depreciation claimed by the assessee for a machine not put to use in the assessment year. Additionally, the tribunal supported the deletion of an addition made under section 41(1)(a) of the IT Act, as the liabilities in question were not new credits but outstanding liabilities. Both the appeal and cross-objection filed by the assessee were dismissed, along with the appeal filed by the Revenue. en-us Tue, 22 Jun 2004 00:00:00 +0530 Thu, 13 Jan 2011 13:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61578 The tribunal upheld the disallowance of depreciation claimed by the assessee for a machine not put to use in the assessment year. Additionally, the tribunal supported the deletion of an addition made under section 41(1)(a) of the IT Act, as the liabilities in question were not new credits but outstanding liabilities. Both the appeal and cross-objection filed by the assessee were dismissed, along with the appeal filed by the Revenue. Case-Laws Income Tax Tue, 22 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61578