https://www.taxtmi.com/caselaws?id=236528 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions on three key issues. It found the interest rate on unsecured loans reasonable and uniformly applied, approved the 100% depreciation claim on library books, and concluded that the addition based on the DVO's report lacked justification without rejecting the books of account. The judgment underscores the significance of thorough assessment and substantiation of additions and disallowances by the AO, along with compliance with legal principles and norms. en-us Fri, 28 Jun 2013 00:00:00 +0530 Fri, 30 Aug 2013 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236528 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions on three key issues. It found the interest rate on unsecured loans reasonable and uniformly applied, approved the 100% depreciation claim on library books, and concluded that the addition based on the DVO's report lacked justification without rejecting the books of account. The judgment underscores the significance of thorough assessment and substantiation of additions and disallowances by the AO, along with compliance with legal principles and norms. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236528