https://www.taxtmi.com/caselaws?id=63419 The Appellate Tribunal upheld the disallowance of depreciation and maintenance expenses related to personal use of cars by Directors, citing the need for reasonableness in evaluating expenses under section 40(c) of the Income-tax Act. Additionally, the disallowance of interest on the Directors' current account under section 40A(8) was confirmed, aligning with the view that such interest resembled deposit accounts. The appellant's arguments based on specific rules and previous court decisions were deemed without merit, resulting in the dismissal of the appeal. en-us Wed, 30 May 1990 00:00:00 +0530 Sat, 29 Jan 2011 18:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63419 The Appellate Tribunal upheld the disallowance of depreciation and maintenance expenses related to personal use of cars by Directors, citing the need for reasonableness in evaluating expenses under section 40(c) of the Income-tax Act. Additionally, the disallowance of interest on the Directors' current account under section 40A(8) was confirmed, aligning with the view that such interest resembled deposit accounts. The appellant's arguments based on specific rules and previous court decisions were deemed without merit, resulting in the dismissal of the appeal. Case-Laws Income Tax Wed, 30 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63419