https://www.taxtmi.com/caselaws?id=65357 The Tribunal allowed the appeal of the assessee, directing the AO to allow the depreciation claimed on bottles leased out to another company and adjust the lease rent against the interest income assessed. The Tribunal found the reopening of assessment under section 147 and the disallowance of depreciation unjustified, noting that the lease transactions were genuine and supported by detailed records. The lower authorities were held not justified in disallowing the claim, leading to a favorable outcome for the assessee. en-us Tue, 06 Jan 2004 00:00:00 +0530 Tue, 15 Feb 2011 11:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65357 The Tribunal allowed the appeal of the assessee, directing the AO to allow the depreciation claimed on bottles leased out to another company and adjust the lease rent against the interest income assessed. The Tribunal found the reopening of assessment under section 147 and the disallowance of depreciation unjustified, noting that the lease transactions were genuine and supported by detailed records. The lower authorities were held not justified in disallowing the claim, leading to a favorable outcome for the assessee. Case-Laws Income Tax Tue, 06 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65357