https://www.taxtmi.com/caselaws?id=205348 The Tribunal ruled in favor of the assessee on all issues. Regarding the disallowance of depreciation on re-exported assets, it held that transferring assets to another location did not constitute demolition or sale, allowing the depreciation claim. For the disallowance of charter hire rentals during the standby period, the Tribunal considered the standby period as asset usage, permitting the deduction for hire charges. The legal validity of re-opening the assessment was not addressed as the substantive issues were resolved in favor of the assessee. en-us Wed, 08 Jun 2011 00:00:00 +0530 Wed, 31 Aug 2011 18:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205348 The Tribunal ruled in favor of the assessee on all issues. Regarding the disallowance of depreciation on re-exported assets, it held that transferring assets to another location did not constitute demolition or sale, allowing the depreciation claim. For the disallowance of charter hire rentals during the standby period, the Tribunal considered the standby period as asset usage, permitting the deduction for hire charges. The legal validity of re-opening the assessment was not addressed as the substantive issues were resolved in favor of the assessee. Case-Laws Income Tax Wed, 08 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205348