https://www.taxtmi.com/caselaws?id=250472 The High Court addressed the disallowance of depreciation in the block assessment order, with assets initially deemed not genuine. The Tribunal set aside the order due to limitation, leading to a reference under Section 260-A of the Income Tax Act. The Court noted the matter pending before the Apex Court. Regarding the regular assessment for 1997-98, depreciation was disallowed but later allowed by the Tribunal. For 2001-02, depreciation was initially denied but granted following precedent. The Court emphasized not interfering with established findings, dismissing the appeal as no substantial question of law arose based on the facts and findings. en-us Mon, 14 Jul 2014 00:00:00 +0530 Thu, 14 Aug 2014 08:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250472 The High Court addressed the disallowance of depreciation in the block assessment order, with assets initially deemed not genuine. The Tribunal set aside the order due to limitation, leading to a reference under Section 260-A of the Income Tax Act. The Court noted the matter pending before the Apex Court. Regarding the regular assessment for 1997-98, depreciation was disallowed but later allowed by the Tribunal. For 2001-02, depreciation was initially denied but granted following precedent. The Court emphasized not interfering with established findings, dismissing the appeal as no substantial question of law arose based on the facts and findings. Case-Laws Income Tax Mon, 14 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250472