https://www.taxtmi.com/caselaws?id=62783 The Tribunal upheld the Commissioner (Appeals)'s orders, dismissing the revenue's appeal and allowing the deduction of Rs. 8,76,215 under section 40A(7) and the higher depreciation rate on 'pay loaders.' Additionally, the Tribunal agreed with the Commissioner (Appeals) in deleting the addition of Rs. 3,22,27,078 to the total income of the assessee, ruling that it was a diversion of income by overriding title and not a mere application of profits. en-us Wed, 13 Oct 1982 00:00:00 +0530 Fri, 21 Jan 2011 17:13:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62783 The Tribunal upheld the Commissioner (Appeals)'s orders, dismissing the revenue's appeal and allowing the deduction of Rs. 8,76,215 under section 40A(7) and the higher depreciation rate on 'pay loaders.' Additionally, the Tribunal agreed with the Commissioner (Appeals) in deleting the addition of Rs. 3,22,27,078 to the total income of the assessee, ruling that it was a diversion of income by overriding title and not a mere application of profits. Case-Laws Income Tax Wed, 13 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62783