https://www.taxtmi.com/caselaws?id=118498 The Tribunal upheld the disallowance of depreciation on the Baroda Plant and Titan Machine due to lack of actual use, and confirmed the disallowance of foreign currency fluctuation losses as notional. The disallowance of bad debts was remanded to the AO for reconsideration with evidence. The Tribunal upheld the CIT(A)'s decision allowing maintenance and repair expenses for the Mumbai building as revenue expenditure. The assessee's appeal was partly allowed for statistical purposes, while the revenue's appeal was dismissed. en-us Tue, 31 Jan 2006 00:00:00 +0530 Fri, 22 Mar 2024 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118498 The Tribunal upheld the disallowance of depreciation on the Baroda Plant and Titan Machine due to lack of actual use, and confirmed the disallowance of foreign currency fluctuation losses as notional. The disallowance of bad debts was remanded to the AO for reconsideration with evidence. The Tribunal upheld the CIT(A)'s decision allowing maintenance and repair expenses for the Mumbai building as revenue expenditure. The assessee's appeal was partly allowed for statistical purposes, while the revenue's appeal was dismissed. Case-Laws Income Tax Tue, 31 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118498