https://www.taxtmi.com/caselaws?id=204537 The court dismissed the appeal after addressing multiple legal issues under the Income-tax Act, 1961. The appellant's dispute over the valuation of furniture for depreciation was rejected, affirming the respondent's entitlement to claim depreciation. The treatment of interest income as business income was upheld due to the borrowing being integral to an investment with RBI permission. The interpretation of sections 10(33) and 115JA(2) was supported by precedents, leading to the dismissal of the appeal for lack of legal justification. en-us Mon, 22 Sep 2008 00:00:00 +0530 Thu, 20 Dec 2012 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204537 The court dismissed the appeal after addressing multiple legal issues under the Income-tax Act, 1961. The appellant's dispute over the valuation of furniture for depreciation was rejected, affirming the respondent's entitlement to claim depreciation. The treatment of interest income as business income was upheld due to the borrowing being integral to an investment with RBI permission. The interpretation of sections 10(33) and 115JA(2) was supported by precedents, leading to the dismissal of the appeal for lack of legal justification. Case-Laws Income Tax Mon, 22 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204537