https://www.taxtmi.com/caselaws?id=211874 The Court allowed depreciation on foreign cars used for business purposes abroad, emphasizing a liberal interpretation of the Income Tax Act provision to permit legitimate claims. However, the Court ruled against considering a construction business as an industrial undertaking for deductions under Sections 80J and 80HH, as the construction activities did not align with the Act's definition of manufacturing or production. Consequently, the assessee was entitled to depreciation on foreign cars used abroad but was denied deductions for the construction business under the Income Tax Act. en-us Wed, 14 Jul 2010 00:00:00 +0530 Sat, 07 Apr 2012 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211874 The Court allowed depreciation on foreign cars used for business purposes abroad, emphasizing a liberal interpretation of the Income Tax Act provision to permit legitimate claims. However, the Court ruled against considering a construction business as an industrial undertaking for deductions under Sections 80J and 80HH, as the construction activities did not align with the Act's definition of manufacturing or production. Consequently, the assessee was entitled to depreciation on foreign cars used abroad but was denied deductions for the construction business under the Income Tax Act. Case-Laws Income Tax Wed, 14 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211874