https://www.taxtmi.com/caselaws?id=103332 The ITAT ruled in favor of the appellant on the disallowance of payment made to a club, citing past rulings supporting the deduction for business purposes and deleting the disallowance. Regarding the disallowance of depreciation on cylinders, the ITAT found the transaction genuine based on evidence provided by the appellant, allowing 100% depreciation but limiting it to 50% due to partial usage. The ITAT directed the Assessing Officer to recalculate interest under section 234B based on their order, partially allowing the appeal and addressing the interest charge for recalculation. en-us Mon, 03 Jun 2002 00:00:00 +0530 Wed, 22 Feb 2012 14:20:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103332 The ITAT ruled in favor of the appellant on the disallowance of payment made to a club, citing past rulings supporting the deduction for business purposes and deleting the disallowance. Regarding the disallowance of depreciation on cylinders, the ITAT found the transaction genuine based on evidence provided by the appellant, allowing 100% depreciation but limiting it to 50% due to partial usage. The ITAT directed the Assessing Officer to recalculate interest under section 234B based on their order, partially allowing the appeal and addressing the interest charge for recalculation. Case-Laws Income Tax Mon, 03 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103332