https://www.taxtmi.com/caselaws?id=239885 The High Court upheld the Tribunal's decision allowing a depreciation deduction under Section 32 of the Income Tax Act for the Assessment Year 2008-2009. The Court found that the Tribunal's decision was based on cogent material and not perverse. As the assessee had declared nil income for the relevant year, the allowance of depreciation was deemed appropriate. The Court dismissed the department's appeal, emphasizing that findings of fact cannot be overturned without demonstrating perversity. en-us Thu, 21 Nov 2013 00:00:00 +0530 Sat, 23 Nov 2013 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239885 The High Court upheld the Tribunal's decision allowing a depreciation deduction under Section 32 of the Income Tax Act for the Assessment Year 2008-2009. The Court found that the Tribunal's decision was based on cogent material and not perverse. As the assessee had declared nil income for the relevant year, the allowance of depreciation was deemed appropriate. The Court dismissed the department's appeal, emphasizing that findings of fact cannot be overturned without demonstrating perversity. Case-Laws Income Tax Thu, 21 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239885