https://www.taxtmi.com/caselaws?id=176859 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the depreciation claim while computing the exemption under Section 11 of the Income-tax Act, 1961. The Tribunal held that the claim for depreciation was valid, citing precedent from the Punjab & Haryana High Court and emphasizing the absence of contrary material or higher court orders presented by the Revenue. The orders of the lower authorities disallowing the depreciation claim were set aside. en-us Tue, 10 Apr 2012 00:00:00 +0530 Tue, 04 Jul 2017 09:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176859 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the depreciation claim while computing the exemption under Section 11 of the Income-tax Act, 1961. The Tribunal held that the claim for depreciation was valid, citing precedent from the Punjab & Haryana High Court and emphasizing the absence of contrary material or higher court orders presented by the Revenue. The orders of the lower authorities disallowing the depreciation claim were set aside. Case-Laws Income Tax Tue, 10 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176859