https://www.taxtmi.com/caselaws?id=261989 The Tribunal upheld the CIT(A)'s decisions in a tax case, confirming that two properties were used for business activities and eligible for depreciation. The Revenue's appeal against the deletion of disallowance of depreciation claims and under Section 79 of the Income Tax Act was dismissed. The Tribunal found no basis for notional addition of income from house property and allowed the set-off of brought forward losses as there was no change in shareholding pattern. The appeal was dismissed entirely in favor of the taxpayer. en-us Mon, 27 Jul 2015 00:00:00 +0530 Wed, 29 Jul 2015 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261989 The Tribunal upheld the CIT(A)'s decisions in a tax case, confirming that two properties were used for business activities and eligible for depreciation. The Revenue's appeal against the deletion of disallowance of depreciation claims and under Section 79 of the Income Tax Act was dismissed. The Tribunal found no basis for notional addition of income from house property and allowed the set-off of brought forward losses as there was no change in shareholding pattern. The appeal was dismissed entirely in favor of the taxpayer. Case-Laws Income Tax Mon, 27 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261989