https://www.taxtmi.com/caselaws?id=211530 The HC upheld the Tribunal's confirmation of the CIT(A)'s order deleting an income addition for purchase of a crane and allowing depreciation. The Court found the assessee had conclusively proved the purchase and existence of the crane and had not debited the cost to the profit and loss account; there was no evidence the transaction was bogus. Consequently, neither an addition of the purchase price nor disallowance of depreciation was warranted, and the Tribunal's deletion of the addition and restoration of depreciation was justified. en-us Mon, 10 Jan 2011 00:00:00 +0530 Mon, 25 Aug 2025 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211530 The HC upheld the Tribunal's confirmation of the CIT(A)'s order deleting an income addition for purchase of a crane and allowing depreciation. The Court found the assessee had conclusively proved the purchase and existence of the crane and had not debited the cost to the profit and loss account; there was no evidence the transaction was bogus. Consequently, neither an addition of the purchase price nor disallowance of depreciation was warranted, and the Tribunal's deletion of the addition and restoration of depreciation was justified. Case-Laws Income Tax Mon, 10 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211530