https://www.taxtmi.com/caselaws?id=118500 The Tribunal upheld the reclassification of interest income under "Income from other sources," resulting in a reduction in the deduction under section 80-I. However, the issue of depreciation on TG & QQ equipment purchased from a sister concern was remanded back to the AO for reconsideration. The Tribunal directed a comprehensive assessment of the DVO's report and relevant factors, emphasizing that such reports are not binding and should be objectively evaluated along with the financial conditions and intentions behind the transfer for determining the fair cost of the equipment for depreciation purposes. The appeal of the assessee was partially allowed with specific instructions for reassessment of the depreciation claim. en-us Tue, 31 Jan 2006 00:00:00 +0530 Mon, 02 Jul 2012 12:45:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118500 The Tribunal upheld the reclassification of interest income under "Income from other sources," resulting in a reduction in the deduction under section 80-I. However, the issue of depreciation on TG & QQ equipment purchased from a sister concern was remanded back to the AO for reconsideration. The Tribunal directed a comprehensive assessment of the DVO's report and relevant factors, emphasizing that such reports are not binding and should be objectively evaluated along with the financial conditions and intentions behind the transfer for determining the fair cost of the equipment for depreciation purposes. The appeal of the assessee was partially allowed with specific instructions for reassessment of the depreciation claim. Case-Laws Income Tax Tue, 31 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118500