https://www.taxtmi.com/caselaws?id=207727 The High Court of Madras, in a judgment by Mr. Justice ELIPE DHARMA RAO and Mr. Justice R.SUBBIAH, ruled in favor of the revenue regarding the collection of contingency deposits, considering them as part of income. However, the court ruled against the revenue on the matter of depreciation on leased assets, allowing the claim for depreciation based on precedents that installation at the lessee's premises is sufficient, irrespective of the exact date of use. The judgment provides detailed analysis and references to legal precedents, ultimately allowing the appeals in part. en-us Thu, 08 Dec 2011 00:00:00 +0530 Thu, 22 Dec 2011 08:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207727 The High Court of Madras, in a judgment by Mr. Justice ELIPE DHARMA RAO and Mr. Justice R.SUBBIAH, ruled in favor of the revenue regarding the collection of contingency deposits, considering them as part of income. However, the court ruled against the revenue on the matter of depreciation on leased assets, allowing the claim for depreciation based on precedents that installation at the lessee's premises is sufficient, irrespective of the exact date of use. The judgment provides detailed analysis and references to legal precedents, ultimately allowing the appeals in part. Case-Laws Income Tax Thu, 08 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207727