https://www.taxtmi.com/caselaws?id=268808 The High Court upheld the Tribunal's decisions on all issues, dismissing the Revenue's appeal. The court allowed the depreciation claim for machinery of a discontinued business, accepted the loss due to fire as revenue expenditure, and approved the devaluation of closing stock under Section 145A. The judgments were based on thorough legal analysis and factual considerations, leading to the dismissal of the appeal without costs awarded. en-us Tue, 17 Nov 2015 00:00:00 +0530 Wed, 02 Dec 2015 02:15:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268808 The High Court upheld the Tribunal's decisions on all issues, dismissing the Revenue's appeal. The court allowed the depreciation claim for machinery of a discontinued business, accepted the loss due to fire as revenue expenditure, and approved the devaluation of closing stock under Section 145A. The judgments were based on thorough legal analysis and factual considerations, leading to the dismissal of the appeal without costs awarded. Case-Laws Income Tax Tue, 17 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268808