https://www.taxtmi.com/caselaws?id=66663 The Tribunal dismissed the appeal, ruling that the assessee could not claim depreciation on the car or interest on the car loan as deductible expenses under Section 57(iii) of the Income-tax Act. The reimbursement of petrol bills was deemed not to be income or a perquisite, and as there was no corresponding income, the claim for depreciation was not supported. en-us Fri, 27 Aug 1993 00:00:00 +0530 Sat, 05 Mar 2011 14:49:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66663 The Tribunal dismissed the appeal, ruling that the assessee could not claim depreciation on the car or interest on the car loan as deductible expenses under Section 57(iii) of the Income-tax Act. The reimbursement of petrol bills was deemed not to be income or a perquisite, and as there was no corresponding income, the claim for depreciation was not supported. Case-Laws Income Tax Fri, 27 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66663