https://www.taxtmi.com/caselaws?id=63461 The Tribunal allowed both appeals, directing a re-examination of the genuineness of transactions and consequent claims of depreciation and investment allowance. The disallowance of depreciation on soft drink bottles was overturned, with the Tribunal holding that assets are deemed to be used when the lessor becomes entitled to rent. Regarding the disallowance of depreciation on computers, the Tribunal admitted additional evidence and remitted the matter for reassessment. The claim of investment allowance was also remanded for re-examination in light of the genuineness of the transaction. en-us Fri, 07 Oct 1994 00:00:00 +0530 Mon, 31 Jan 2011 11:12:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63461 The Tribunal allowed both appeals, directing a re-examination of the genuineness of transactions and consequent claims of depreciation and investment allowance. The disallowance of depreciation on soft drink bottles was overturned, with the Tribunal holding that assets are deemed to be used when the lessor becomes entitled to rent. Regarding the disallowance of depreciation on computers, the Tribunal admitted additional evidence and remitted the matter for reassessment. The claim of investment allowance was also remanded for re-examination in light of the genuineness of the transaction. Case-Laws Income Tax Fri, 07 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63461