https://www.taxtmi.com/caselaws?id=249307 The Tribunal upheld the disallowance of depreciation amounting to Rs. 2.79 lakhs by the Assessing Officer, citing lack of proper evidence to substantiate the claim. Additionally, the disallowance of depreciation on the additional factory building construction was confirmed due to insufficient evidence provided by the appellant to prove the genuineness of the expenses. The Tribunal emphasized the importance of producing adequate documentation such as bills, vouchers, or valuation reports to support claims for deductions. As a result, the appeal was dismissed, and the lower authorities' decisions to disallow depreciation were upheld. en-us Thu, 19 Jun 2014 00:00:00 +0530 Thu, 10 Jul 2014 08:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249307 The Tribunal upheld the disallowance of depreciation amounting to Rs. 2.79 lakhs by the Assessing Officer, citing lack of proper evidence to substantiate the claim. Additionally, the disallowance of depreciation on the additional factory building construction was confirmed due to insufficient evidence provided by the appellant to prove the genuineness of the expenses. The Tribunal emphasized the importance of producing adequate documentation such as bills, vouchers, or valuation reports to support claims for deductions. As a result, the appeal was dismissed, and the lower authorities' decisions to disallow depreciation were upheld. Case-Laws Income Tax Thu, 19 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249307