https://www.taxtmi.com/caselaws?id=65481 The case involved issues regarding the disallowance of depreciation on assets discarded by the assessee and disallowance of interest on advances to related parties. The court held that depreciation should be allowed on the block of assets as per the relevant provisions, and the disallowance of interest on advances to related parties was unjustified as the transactions were for business purposes. As a result, the appeals filed by the assessee for the relevant assessment years were partly allowed. en-us Fri, 23 May 2008 00:00:00 +0530 Fri, 20 Jul 2012 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65481 The case involved issues regarding the disallowance of depreciation on assets discarded by the assessee and disallowance of interest on advances to related parties. The court held that depreciation should be allowed on the block of assets as per the relevant provisions, and the disallowance of interest on advances to related parties was unjustified as the transactions were for business purposes. As a result, the appeals filed by the assessee for the relevant assessment years were partly allowed. Case-Laws Income Tax Fri, 23 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65481