https://www.taxtmi.com/caselaws?id=214131 The Tribunal upheld the Revenue's decision to treat books as 'plant' eligible for depreciation at 60%. The disallowance of unverifiable expenses on books was upheld, while the matter of awards was remanded for further examination. The disallowance under section 40A(3) was confirmed, emphasizing the need to view transactions in their substance. The Tribunal dismissed the assessee's appeal and partly allowed the Revenue's appeal. en-us Wed, 22 Jun 2011 00:00:00 +0530 Fri, 24 May 2013 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214131 The Tribunal upheld the Revenue's decision to treat books as 'plant' eligible for depreciation at 60%. The disallowance of unverifiable expenses on books was upheld, while the matter of awards was remanded for further examination. The disallowance under section 40A(3) was confirmed, emphasizing the need to view transactions in their substance. The Tribunal dismissed the assessee's appeal and partly allowed the Revenue's appeal. Case-Laws Income Tax Wed, 22 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214131