https://www.taxtmi.com/caselaws?id=62892 The Tribunal allowed the appeal of the assessee, setting aside the lower authorities' orders on all issues. It held that section 41(2) of the Income-tax Act did not apply as the machinery was repairable, not wholly destroyed. Repair charges were classified as business expenditure, allowing depreciation of Rs. 1,95,215. The Tribunal directed the Assessing Officer to grant relief accordingly and modify the interest charged under sections 139(8) and 215/217 in line with the findings. en-us Fri, 04 Sep 1992 00:00:00 +0530 Sat, 22 Jan 2011 14:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62892 The Tribunal allowed the appeal of the assessee, setting aside the lower authorities' orders on all issues. It held that section 41(2) of the Income-tax Act did not apply as the machinery was repairable, not wholly destroyed. Repair charges were classified as business expenditure, allowing depreciation of Rs. 1,95,215. The Tribunal directed the Assessing Officer to grant relief accordingly and modify the interest charged under sections 139(8) and 215/217 in line with the findings. Case-Laws Income Tax Fri, 04 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62892