https://www.taxtmi.com/caselaws?id=258254 The tribunal upheld the CIT(A)'s decision to allow depreciation on computers acquired under slump sale for the assessment year 2007-08. The Revenue's appeal was dismissed, and the assessee's claim for depreciation of Rs. 98,88,500 was accepted based on the revised certificate provided by the auditor confirming the assets were used for more than 180 days in the relevant financial year. The tribunal emphasized the importance of assets being put to use promptly after a slump sale transaction to enable the undertaking to operate smoothly. en-us Thu, 24 Apr 2014 00:00:00 +0530 Sat, 04 Apr 2015 06:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258254 The tribunal upheld the CIT(A)'s decision to allow depreciation on computers acquired under slump sale for the assessment year 2007-08. The Revenue's appeal was dismissed, and the assessee's claim for depreciation of Rs. 98,88,500 was accepted based on the revised certificate provided by the auditor confirming the assets were used for more than 180 days in the relevant financial year. The tribunal emphasized the importance of assets being put to use promptly after a slump sale transaction to enable the undertaking to operate smoothly. Case-Laws Income Tax Thu, 24 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258254