https://www.taxtmi.com/caselaws?id=151818 The Appellate Tribunal partly allowed the Revenue's appeal by upholding the disallowance of depreciation on plant and machinery not actually used during the relevant year, emphasizing the necessity of actual use for depreciation eligibility. However, it rejected the Revenue's appeal concerning the deletion of the addition of obsolete stock written off, affirming the Commissioner's decision to allow the full claim due to the recognized obsolescence and the strike/lockout situation. The Tribunal found the Revenue's partial disallowance of the obsolete stock unjustified. en-us Thu, 08 Sep 2005 00:00:00 +0530 Sat, 20 Apr 2024 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151818 The Appellate Tribunal partly allowed the Revenue's appeal by upholding the disallowance of depreciation on plant and machinery not actually used during the relevant year, emphasizing the necessity of actual use for depreciation eligibility. However, it rejected the Revenue's appeal concerning the deletion of the addition of obsolete stock written off, affirming the Commissioner's decision to allow the full claim due to the recognized obsolescence and the strike/lockout situation. The Tribunal found the Revenue's partial disallowance of the obsolete stock unjustified. Case-Laws Income Tax Thu, 08 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151818