https://www.taxtmi.com/caselaws?id=212500 The Tribunal upheld the deletion of depreciation on a motor car purchased in the director's name for business purposes. It also confirmed the eligibility of the assessee for a deduction under section 80-IB for manufacturing activities. Various items were considered for deduction under section 80-IB, with some allowed and others needing further examination. The Tribunal did not extensively address the levy of interest and penalty, deeming them either consequential or premature. The Revenue's appeal was dismissed, and the cross objection by the assessee was partly allowed. en-us Mon, 31 Oct 2011 00:00:00 +0530 Mon, 25 Apr 2016 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212500 The Tribunal upheld the deletion of depreciation on a motor car purchased in the director's name for business purposes. It also confirmed the eligibility of the assessee for a deduction under section 80-IB for manufacturing activities. Various items were considered for deduction under section 80-IB, with some allowed and others needing further examination. The Tribunal did not extensively address the levy of interest and penalty, deeming them either consequential or premature. The Revenue's appeal was dismissed, and the cross objection by the assessee was partly allowed. Case-Laws Income Tax Mon, 31 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212500