https://www.taxtmi.com/caselaws?id=253274 The Court ruled in favor of the revenue regarding the allowance of depreciation on the guest house, upholding the disallowance based on the legislative intent to exclude such expenses. However, the Court sided with the assessee on the treatment of octroi payment under section 40A(3), agreeing that the payment made through an appointed agency did not fall under the disallowance provisions. The Tribunal's order was modified accordingly, allowing the reference to the extent mentioned in the judgment. en-us Fri, 07 Nov 2014 00:00:00 +0530 Thu, 20 Nov 2014 13:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253274 The Court ruled in favor of the revenue regarding the allowance of depreciation on the guest house, upholding the disallowance based on the legislative intent to exclude such expenses. However, the Court sided with the assessee on the treatment of octroi payment under section 40A(3), agreeing that the payment made through an appointed agency did not fall under the disallowance provisions. The Tribunal's order was modified accordingly, allowing the reference to the extent mentioned in the judgment. Case-Laws Income Tax Fri, 07 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253274