https://www.taxtmi.com/caselaws?id=242328 The Revenue's appeal was successful as the penalty for a wrongful depreciation claim was reinstated. Despite arguments of bonafide intent, lack of evidence to support the claim's legitimacy led to the penalty being upheld. The CIT(A)'s decision to delete the penalty was overturned, emphasizing the importance of accurate particulars in tax filings. en-us Thu, 12 Dec 2013 00:00:00 +0530 Mon, 13 Jan 2014 09:51:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242328 The Revenue's appeal was successful as the penalty for a wrongful depreciation claim was reinstated. Despite arguments of bonafide intent, lack of evidence to support the claim's legitimacy led to the penalty being upheld. The CIT(A)'s decision to delete the penalty was overturned, emphasizing the importance of accurate particulars in tax filings. Case-Laws Income Tax Thu, 12 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242328