https://www.taxtmi.com/caselaws?id=242529 The ITAT partly allowed the assessee's appeal and dismissed the Revenue's appeal. The ITAT ruled in favor of the assessee by deleting the addition of notional interest on security deposit and disallowance of interest expenditure. However, the ITAT upheld the disallowance of the depreciation claim on Plant & Machinery. The decision was based on legal interpretations and previous decisions favoring the assessee in similar issues for previous assessment years. en-us Fri, 07 Jun 2013 00:00:00 +0530 Fri, 17 Jan 2014 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242529 The ITAT partly allowed the assessee's appeal and dismissed the Revenue's appeal. The ITAT ruled in favor of the assessee by deleting the addition of notional interest on security deposit and disallowance of interest expenditure. However, the ITAT upheld the disallowance of the depreciation claim on Plant & Machinery. The decision was based on legal interpretations and previous decisions favoring the assessee in similar issues for previous assessment years. Case-Laws Income Tax Fri, 07 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242529