https://www.taxtmi.com/caselaws?id=261481 The Tribunal upheld the CIT(A)'s decision to sustain the addition of excess depreciation claimed by the appellant for the assessment year. The appellant's challenge regarding the correctness of the CIT(A) order and the validity of proceedings under section 154 were dismissed. The Tribunal emphasized that the appellant's tankers were not eligible for higher depreciation rates as they were used for the appellant's own business and not hired out, citing relevant High Court decisions to support its ruling. en-us Thu, 05 Mar 2015 00:00:00 +0530 Tue, 21 Apr 2015 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261481 The Tribunal upheld the CIT(A)'s decision to sustain the addition of excess depreciation claimed by the appellant for the assessment year. The appellant's challenge regarding the correctness of the CIT(A) order and the validity of proceedings under section 154 were dismissed. The Tribunal emphasized that the appellant's tankers were not eligible for higher depreciation rates as they were used for the appellant's own business and not hired out, citing relevant High Court decisions to support its ruling. Case-Laws Income Tax Thu, 05 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261481