https://www.taxtmi.com/caselaws?id=64848 The Tribunal partly allowed the appeal, granting relief to the assessee on several grounds. It directed the Assessing Officer to apply a 40% depreciation rate on leased commercial vehicles, delete the addition of lease equalization charges, and remove disallowances related to fees paid to RoC, capital expenditure, and provisions for bad and doubtful debts under section 115JA. The Tribunal also directed the deletion of the disallowance of interest paid on interest tax liability, aligning with precedents favoring the assessee. However, it upheld the disallowance of expenses related to equity shares issuance as capital expenditure. en-us Fri, 20 Jul 2007 00:00:00 +0530 Wed, 07 Feb 2024 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64848 The Tribunal partly allowed the appeal, granting relief to the assessee on several grounds. It directed the Assessing Officer to apply a 40% depreciation rate on leased commercial vehicles, delete the addition of lease equalization charges, and remove disallowances related to fees paid to RoC, capital expenditure, and provisions for bad and doubtful debts under section 115JA. The Tribunal also directed the deletion of the disallowance of interest paid on interest tax liability, aligning with precedents favoring the assessee. However, it upheld the disallowance of expenses related to equity shares issuance as capital expenditure. Case-Laws Income Tax Fri, 20 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64848