https://www.taxtmi.com/caselaws?id=64772 The tribunal allowed depreciation on trucks purchased from DCM Toyota Ltd. as ownership and business usage were established despite an initial disallowance. Similarly, depreciation on gas cylinders leased to National Air Products Ltd. and photocomposing machines leased to Designers Pvt. Ltd. was permitted based on ownership evidence. Disallowance of user charges paid to Goyal Gases Pvt. Ltd. was overturned. However, an addition of Rs. 85,655 for a shortage in liquid oxygen was upheld due to lack of satisfactory explanation. The tribunal partially allowed the appeal concerning unabsorbed depreciation and interest recalculations. en-us Sat, 07 May 1994 00:00:00 +0530 Wed, 09 Feb 2011 17:23:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64772 The tribunal allowed depreciation on trucks purchased from DCM Toyota Ltd. as ownership and business usage were established despite an initial disallowance. Similarly, depreciation on gas cylinders leased to National Air Products Ltd. and photocomposing machines leased to Designers Pvt. Ltd. was permitted based on ownership evidence. Disallowance of user charges paid to Goyal Gases Pvt. Ltd. was overturned. However, an addition of Rs. 85,655 for a shortage in liquid oxygen was upheld due to lack of satisfactory explanation. The tribunal partially allowed the appeal concerning unabsorbed depreciation and interest recalculations. Case-Laws Income Tax Sat, 07 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64772