https://www.taxtmi.com/caselaws?id=70532 The Tribunal upheld the disallowance of depreciation for motor cars used for personal purposes by directors, emphasizing that assets not exclusively used for business purposes are subject to proportionate disallowance under section 38(2) of the IT Act, 1961. The Vice President concurred with the Judicial Member's view, citing previous court decisions and statutory provisions to deny deductions for the relevant assessment years. The decision favored disallowing deductions for non-business asset usage, aligning with the Judicial Member's stance on the need for proportionate disallowance in such cases. en-us Wed, 12 Oct 1977 00:00:00 +0530 Sat, 16 Apr 2011 16:12:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70532 The Tribunal upheld the disallowance of depreciation for motor cars used for personal purposes by directors, emphasizing that assets not exclusively used for business purposes are subject to proportionate disallowance under section 38(2) of the IT Act, 1961. The Vice President concurred with the Judicial Member's view, citing previous court decisions and statutory provisions to deny deductions for the relevant assessment years. The decision favored disallowing deductions for non-business asset usage, aligning with the Judicial Member's stance on the need for proportionate disallowance in such cases. Case-Laws Income Tax Wed, 12 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70532