https://www.taxtmi.com/caselaws?id=67991 The ITAT partly allowed the appeal, supporting the assessee's claim of a new partnership firm with separate assessment periods. Disallowances of interest, car expenses, depreciation, travelling expenses, and office rent were adjusted or rejected based on compliance and usage criteria. Penal interest was upheld under s. 139(8), and full depreciation was granted to both distinct partnership firms as separate entities. The ITAT's decisions were grounded in factual and legal considerations presented during the proceedings. en-us Thu, 14 Jul 1988 00:00:00 +0530 Wed, 16 Mar 2011 12:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67991 The ITAT partly allowed the appeal, supporting the assessee's claim of a new partnership firm with separate assessment periods. Disallowances of interest, car expenses, depreciation, travelling expenses, and office rent were adjusted or rejected based on compliance and usage criteria. Penal interest was upheld under s. 139(8), and full depreciation was granted to both distinct partnership firms as separate entities. The ITAT's decisions were grounded in factual and legal considerations presented during the proceedings. Case-Laws Income Tax Thu, 14 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67991