https://www.taxtmi.com/caselaws?id=65529 The Tribunal allowed the appeal in part, directing the AO to recompute depreciation on a car sold during the year in accordance with provisions of s. 32(1) and s. 43(6)(c) of the IT Act, 1961. The Tribunal highlighted discrepancies in the treatment of the sold asset and emphasized the importance of correctly applying depreciation rules for determining taxable income. en-us Fri, 13 Jul 2007 00:00:00 +0530 Thu, 26 Jul 2012 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65529 The Tribunal allowed the appeal in part, directing the AO to recompute depreciation on a car sold during the year in accordance with provisions of s. 32(1) and s. 43(6)(c) of the IT Act, 1961. The Tribunal highlighted discrepancies in the treatment of the sold asset and emphasized the importance of correctly applying depreciation rules for determining taxable income. Case-Laws Income Tax Fri, 13 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65529