https://www.taxtmi.com/caselaws?id=241114 The Tribunal upheld the deletion of disallowance on depreciation claimed by the assessee for the dealership network under Section 32(1)(ii) of the Income Tax Act, treating it as an intangible asset. It also confirmed the higher depreciation rate of 60% on printers, scanners, UPS, etc. The disallowance under Section 14-A was partially overturned, with interest disallowance deleted but other expenses disallowed. The rectification order under Section 154 for A.Y. 2001-02 was set aside, directing the deletion of the addition to book profit. en-us Thu, 31 Oct 2013 00:00:00 +0530 Mon, 09 Dec 2013 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241114 The Tribunal upheld the deletion of disallowance on depreciation claimed by the assessee for the dealership network under Section 32(1)(ii) of the Income Tax Act, treating it as an intangible asset. It also confirmed the higher depreciation rate of 60% on printers, scanners, UPS, etc. The disallowance under Section 14-A was partially overturned, with interest disallowance deleted but other expenses disallowed. The rectification order under Section 154 for A.Y. 2001-02 was set aside, directing the deletion of the addition to book profit. Case-Laws Income Tax Thu, 31 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241114