https://www.taxtmi.com/caselaws?id=155040 The Revenue's appeal challenging the disallowance of depreciation on leased assets was upheld by the ITAT, which directed a reevaluation by the Assessing Officer to determine the taxability of lease rent and allowability of depreciation. Regarding the treatment of unclaimed liabilities as income, the ITAT upheld the deletion of the addition by the Commissioner of Income-tax (Appeals), as there was no proof of remission or cessation of the trading liability. The Revenue's appeal on this issue was dismissed. en-us Fri, 16 Mar 2012 00:00:00 +0530 Sat, 31 Aug 2013 11:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155040 The Revenue's appeal challenging the disallowance of depreciation on leased assets was upheld by the ITAT, which directed a reevaluation by the Assessing Officer to determine the taxability of lease rent and allowability of depreciation. Regarding the treatment of unclaimed liabilities as income, the ITAT upheld the deletion of the addition by the Commissioner of Income-tax (Appeals), as there was no proof of remission or cessation of the trading liability. The Revenue's appeal on this issue was dismissed. Case-Laws Income Tax Fri, 16 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155040