https://www.taxtmi.com/caselaws?id=71852 The Tribunal upheld the validity of the assessment order, directing the AO to consider the entire return for the block period. It ruled in favor of the assessee regarding depreciation on trucks, set-off of unabsorbed depreciation, and depreciation for a broken period. The Tribunal instructed the AO to reevaluate the disallowance of expenses and interest on borrowed funds based on supporting data. However, it rejected the assessee's claim for credit on advance tax/TDS and found no undisclosed income for specific periods. The appeal was partially allowed, with directions for the AO to reassess based on the Tribunal's decisions. en-us Fri, 18 Aug 2000 00:00:00 +0530 Wed, 27 Apr 2011 14:00:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71852 The Tribunal upheld the validity of the assessment order, directing the AO to consider the entire return for the block period. It ruled in favor of the assessee regarding depreciation on trucks, set-off of unabsorbed depreciation, and depreciation for a broken period. The Tribunal instructed the AO to reevaluate the disallowance of expenses and interest on borrowed funds based on supporting data. However, it rejected the assessee's claim for credit on advance tax/TDS and found no undisclosed income for specific periods. The appeal was partially allowed, with directions for the AO to reassess based on the Tribunal's decisions. Case-Laws Income Tax Fri, 18 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71852