https://www.taxtmi.com/caselaws?id=261213 The Tribunal upheld the CIT(A)'s decision to allow additional depreciation on a windmill, citing precedents supporting the claim. It directed the AO to allow depreciation at 15% on fans and electrical installations. The disallowance of ESOP expenses was overturned based on previous rulings. The Tribunal remanded the recalculation of the written down value for depreciation. The challenge to interest charges was rejected, and the initiation of penalty proceedings was deemed premature. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. en-us Fri, 29 May 2015 00:00:00 +0530 Mon, 09 Nov 2015 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261213 The Tribunal upheld the CIT(A)'s decision to allow additional depreciation on a windmill, citing precedents supporting the claim. It directed the AO to allow depreciation at 15% on fans and electrical installations. The disallowance of ESOP expenses was overturned based on previous rulings. The Tribunal remanded the recalculation of the written down value for depreciation. The challenge to interest charges was rejected, and the initiation of penalty proceedings was deemed premature. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. Case-Laws Income Tax Fri, 29 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261213