https://www.taxtmi.com/caselaws?id=213487 The Tribunal remanded the issue of disallowed sales consultancy charges back to the AO for re-examination due to lack of detailed evidence on services rendered. The disallowance of depreciation on fixed assets was restricted by the CIT(A) to Rs. 84,000, with the Tribunal upholding this decision based on sufficient evidence of asset usage for business purposes. The disallowance of interest on borrowed capital was allowed, except for a specific amount related to pre-capitalization period, with the Tribunal affirming this decision in line with relevant case law. The revenue's appeal was dismissed, maintaining the CIT(A)'s decisions on depreciation and interest. en-us Fri, 24 Feb 2012 00:00:00 +0530 Tue, 22 May 2012 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213487 The Tribunal remanded the issue of disallowed sales consultancy charges back to the AO for re-examination due to lack of detailed evidence on services rendered. The disallowance of depreciation on fixed assets was restricted by the CIT(A) to Rs. 84,000, with the Tribunal upholding this decision based on sufficient evidence of asset usage for business purposes. The disallowance of interest on borrowed capital was allowed, except for a specific amount related to pre-capitalization period, with the Tribunal affirming this decision in line with relevant case law. The revenue's appeal was dismissed, maintaining the CIT(A)'s decisions on depreciation and interest. Case-Laws Income Tax Fri, 24 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213487