https://www.taxtmi.com/caselaws?id=255502 The High Court upheld the Tribunal's decisions on both issues. Regarding the disallowance of depreciation on enhanced asset value, the Court held that Explanation-3 of Section 43(1) could not be invoked as the transfer did not aim to reduce tax liability. The Court found no substantial question of law and cited previous decisions to support its conclusion. Concerning the disallowance of interest expenditure on unpaid purchase consideration, the Court agreed with the Tribunal's assessment based on legal precedents and factual findings, dismissing the appeals as no substantial question of law required fresh adjudication. en-us Mon, 10 Nov 2014 00:00:00 +0530 Mon, 19 Jan 2015 08:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255502 The High Court upheld the Tribunal's decisions on both issues. Regarding the disallowance of depreciation on enhanced asset value, the Court held that Explanation-3 of Section 43(1) could not be invoked as the transfer did not aim to reduce tax liability. The Court found no substantial question of law and cited previous decisions to support its conclusion. Concerning the disallowance of interest expenditure on unpaid purchase consideration, the Court agreed with the Tribunal's assessment based on legal precedents and factual findings, dismissing the appeals as no substantial question of law required fresh adjudication. Case-Laws Income Tax Mon, 10 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255502