https://www.taxtmi.com/caselaws?id=212481 The High Court of Gujarat dismissed the Tax Appeal as it did not raise any substantial questions of law for consideration. The judgment upheld the Tribunal's decision regarding the disallowance under section 40A(3) of the Income Tax Act, rejection of books of account under section 145, and disallowance of depreciation on motor cars. The Court emphasized the Tribunal's detailed analysis and reasoning, concluding that the transactions were legitimate, the books of account were accurate, and the disallowance of depreciation was justifiable. en-us Tue, 18 Oct 2011 00:00:00 +0530 Wed, 21 Nov 2012 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212481 The High Court of Gujarat dismissed the Tax Appeal as it did not raise any substantial questions of law for consideration. The judgment upheld the Tribunal's decision regarding the disallowance under section 40A(3) of the Income Tax Act, rejection of books of account under section 145, and disallowance of depreciation on motor cars. The Court emphasized the Tribunal's detailed analysis and reasoning, concluding that the transactions were legitimate, the books of account were accurate, and the disallowance of depreciation was justifiable. Case-Laws Income Tax Tue, 18 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212481