https://www.taxtmi.com/caselaws?id=243959 The Tribunal dismissed Revenue's appeals for Assessment Years 2004-05 and 2007-08, upholding CIT(A)'s decisions. Disallowance of depreciation was deleted based on Tribunal's earlier orders. Disputes over road overlay and renewal expenses were resolved in favor of the assessee, with the Tribunal finding CIT's verification under section 263 unwarranted. The Tribunal emphasized the need for proper grounds for revision orders, affirming the limitations on CIT's power of verification. en-us Thu, 06 Feb 2014 00:00:00 +0530 Fri, 14 Feb 2014 07:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243959 The Tribunal dismissed Revenue's appeals for Assessment Years 2004-05 and 2007-08, upholding CIT(A)'s decisions. Disallowance of depreciation was deleted based on Tribunal's earlier orders. Disputes over road overlay and renewal expenses were resolved in favor of the assessee, with the Tribunal finding CIT's verification under section 263 unwarranted. The Tribunal emphasized the need for proper grounds for revision orders, affirming the limitations on CIT's power of verification. Case-Laws Income Tax Thu, 06 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243959