https://www.taxtmi.com/caselaws?id=242765 The Tribunal upheld the CIT(A)'s decision allowing the assessee company to claim depreciation under Section 32 of the Income Tax Act, 1961. The Tribunal found that the assessee, despite not holding ownership rights, had possession and the right to enjoy the highway sections, entitling them to claim depreciation. Citing various precedents, including Supreme Court interpretations and High Court rulings, the Tribunal concluded that the CIT(A) had made a reasonable decision based on the facts and legal principles. As a result, all Revenue appeals were dismissed, affirming the allowance of depreciation for the assessee company. en-us Thu, 16 Jan 2014 00:00:00 +0530 Thu, 26 Mar 2015 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242765 The Tribunal upheld the CIT(A)'s decision allowing the assessee company to claim depreciation under Section 32 of the Income Tax Act, 1961. The Tribunal found that the assessee, despite not holding ownership rights, had possession and the right to enjoy the highway sections, entitling them to claim depreciation. Citing various precedents, including Supreme Court interpretations and High Court rulings, the Tribunal concluded that the CIT(A) had made a reasonable decision based on the facts and legal principles. As a result, all Revenue appeals were dismissed, affirming the allowance of depreciation for the assessee company. Case-Laws Income Tax Thu, 16 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242765