https://www.taxtmi.com/caselaws?id=244346 The ITAT upheld the CIT(A)'s decisions, allowing the depreciation claim for the ship and directing the deletion of the additional lease rent amount added to the appellant's income. The detailed analysis of the ship's operational history and the accounting treatment of lease rent supported the decisions, resulting in the dismissal of the revenue's appeal in its entirety. en-us Tue, 28 Jan 2014 00:00:00 +0530 Mon, 24 Feb 2014 06:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244346 The ITAT upheld the CIT(A)'s decisions, allowing the depreciation claim for the ship and directing the deletion of the additional lease rent amount added to the appellant's income. The detailed analysis of the ship's operational history and the accounting treatment of lease rent supported the decisions, resulting in the dismissal of the revenue's appeal in its entirety. Case-Laws Income Tax Tue, 28 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244346