https://www.taxtmi.com/caselaws?id=267674 The appeal for the A.Y. 2006-07 resulted in the dismissal of the Revenue's grounds challenging additions and deletions made by the Ld. CIT(A). The deletion of compensation for re-acquiring rights, disallowance of foreign travel expenses, disallowance of depreciation on vehicles not owned by the assessee, and deletion of claimed agricultural income were upheld. In the A.Y. 1998-99 appeal, the penalty imposed by the A.O. was deleted concerning penalty charges paid by the assessee company for non-performance under a Memorandum of Understanding and depreciation on foreign cars deemed incidental to the business. The Cross Objection regarding depreciation on second-hand cars was dismissed. en-us Thu, 08 Oct 2015 00:00:00 +0530 Tue, 10 Nov 2015 21:38:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267674 The appeal for the A.Y. 2006-07 resulted in the dismissal of the Revenue's grounds challenging additions and deletions made by the Ld. CIT(A). The deletion of compensation for re-acquiring rights, disallowance of foreign travel expenses, disallowance of depreciation on vehicles not owned by the assessee, and deletion of claimed agricultural income were upheld. In the A.Y. 1998-99 appeal, the penalty imposed by the A.O. was deleted concerning penalty charges paid by the assessee company for non-performance under a Memorandum of Understanding and depreciation on foreign cars deemed incidental to the business. The Cross Objection regarding depreciation on second-hand cars was dismissed. Case-Laws Income Tax Thu, 08 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267674