https://www.taxtmi.com/caselaws?id=237773 The court ruled in favor of the respondent company, Mira Exim Limited, stating that they are entitled to claim depreciation on imported motor cars as they were acquired after the cut-off date of 1st April 2001. The tribunal's decision was upheld, and the appeals by the Revenue were dismissed. The court's interpretation of the term "acquired" and the legal implications of merger or amalgamation as a transfer were crucial in this judgment. en-us Thu, 03 Oct 2013 00:00:00 +0530 Fri, 06 Dec 2013 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237773 The court ruled in favor of the respondent company, Mira Exim Limited, stating that they are entitled to claim depreciation on imported motor cars as they were acquired after the cut-off date of 1st April 2001. The tribunal's decision was upheld, and the appeals by the Revenue were dismissed. The court's interpretation of the term "acquired" and the legal implications of merger or amalgamation as a transfer were crucial in this judgment. Case-Laws Income Tax Thu, 03 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237773