https://www.taxtmi.com/caselaws?id=234025 The Tribunal dismissed both appeals challenging the deletion of additions under the Income Tax Act. For the assessment year 2005-06, the Tribunal upheld the decision to delete the addition under Rule 8D, citing the non-retrospective nature of the rule. Regarding the assessment year 2006-07, the Tribunal affirmed the deletion of depreciation on "non-compete territory rights," emphasizing the Assessing Officer's lack of valid reasons and inconsistency in previous assessments. The Tribunal stressed the importance of consistency in tax proceedings and upheld the decisions of the Commissioner (Appeals) in both cases. en-us Fri, 10 May 2013 00:00:00 +0530 Sat, 25 May 2013 17:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234025 The Tribunal dismissed both appeals challenging the deletion of additions under the Income Tax Act. For the assessment year 2005-06, the Tribunal upheld the decision to delete the addition under Rule 8D, citing the non-retrospective nature of the rule. Regarding the assessment year 2006-07, the Tribunal affirmed the deletion of depreciation on "non-compete territory rights," emphasizing the Assessing Officer's lack of valid reasons and inconsistency in previous assessments. The Tribunal stressed the importance of consistency in tax proceedings and upheld the decisions of the Commissioner (Appeals) in both cases. Case-Laws Income Tax Fri, 10 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234025