https://www.taxtmi.com/caselaws?id=270060 The Tribunal allowed the assessee's appeal partly for the assessment years 2001-02 and 2002-03, dismissing the Assessing Officer's appeal. For the assessment year 2003-04, the Assessing Officer's appeal was also dismissed. The Tribunal directed the deletion of disallowance of bad debt of Rs. 1 crore, disallowance of depreciation on sale and lease-back transactions, and disallowance of EMI residual account amounting to Rs. 803.40 lakhs. The penalty under section 271(1)(c) was dismissed due to the Tribunal's decisions on the underlying issues. The disallowance of deduction under section 36(1)(viii) was also deleted. en-us Wed, 22 Jul 2015 00:00:00 +0530 Mon, 28 Dec 2015 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270060 The Tribunal allowed the assessee's appeal partly for the assessment years 2001-02 and 2002-03, dismissing the Assessing Officer's appeal. For the assessment year 2003-04, the Assessing Officer's appeal was also dismissed. The Tribunal directed the deletion of disallowance of bad debt of Rs. 1 crore, disallowance of depreciation on sale and lease-back transactions, and disallowance of EMI residual account amounting to Rs. 803.40 lakhs. The penalty under section 271(1)(c) was dismissed due to the Tribunal's decisions on the underlying issues. The disallowance of deduction under section 36(1)(viii) was also deleted. Case-Laws Income Tax Wed, 22 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270060