https://www.taxtmi.com/caselaws?id=63422 The tribunal upheld the Commissioner of Income-tax's decision to disallow depreciation claims under Section 32 and deductions under Section 42 for the assessment years in question, due to the absence of business activities by the assessee in Iran. Additionally, the tribunal affirmed the taxability of interest on compensation received under a Settlement Agreement. The appeals were dismissed, supporting the CIT's findings and directing the recomputation of the assessee's total income. en-us Fri, 21 Sep 1990 00:00:00 +0530 Sat, 29 Jan 2011 18:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63422 The tribunal upheld the Commissioner of Income-tax's decision to disallow depreciation claims under Section 32 and deductions under Section 42 for the assessment years in question, due to the absence of business activities by the assessee in Iran. Additionally, the tribunal affirmed the taxability of interest on compensation received under a Settlement Agreement. The appeals were dismissed, supporting the CIT's findings and directing the recomputation of the assessee's total income. Case-Laws Income Tax Fri, 21 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63422