https://www.taxtmi.com/caselaws?id=165313 The Tribunal upheld the CIT(A)'s decision to allow the claim of additional depreciation under Section 32(1)(iia) of the Income-tax Act, 1961 for an assessee engaged in embroidery work. The Tribunal ruled that the embroidery work qualified as production under the relevant provisions, resulting in the allowance of additional depreciation. Additionally, the Tribunal confirmed the deletion of disallowed interest expenditure related to a commercial transaction involving a sister concern, dismissing the Revenue's appeal in both instances. en-us Wed, 08 Sep 2010 00:00:00 +0530 Fri, 08 Sep 2023 13:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165313 The Tribunal upheld the CIT(A)'s decision to allow the claim of additional depreciation under Section 32(1)(iia) of the Income-tax Act, 1961 for an assessee engaged in embroidery work. The Tribunal ruled that the embroidery work qualified as production under the relevant provisions, resulting in the allowance of additional depreciation. Additionally, the Tribunal confirmed the deletion of disallowed interest expenditure related to a commercial transaction involving a sister concern, dismissing the Revenue's appeal in both instances. Case-Laws Income Tax Wed, 08 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165313