https://www.taxtmi.com/caselaws?id=237088 The tribunal upheld the disallowance of depreciation on assets leased to GSRTC and GEB, following the decision in the case of Indusind Bank Ltd. The tribunal allowed certain expenditures, such as those related to the Mata No Madh project, based on consistent favorable decisions in earlier years. Penalty proceedings were deemed premature and were rejected. Interest charges were considered consequential and not adjudicated. The tribunal provided detailed analyses for each issue, ensuring the application of legal principles and delivering justice accordingly. en-us Fri, 25 May 2012 00:00:00 +0530 Fri, 01 Apr 2016 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237088 The tribunal upheld the disallowance of depreciation on assets leased to GSRTC and GEB, following the decision in the case of Indusind Bank Ltd. The tribunal allowed certain expenditures, such as those related to the Mata No Madh project, based on consistent favorable decisions in earlier years. Penalty proceedings were deemed premature and were rejected. Interest charges were considered consequential and not adjudicated. The tribunal provided detailed analyses for each issue, ensuring the application of legal principles and delivering justice accordingly. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237088