https://www.taxtmi.com/caselaws?id=270743 The Tribunal upheld the disallowance of Rs. 28,563 for depreciation on machinery purchased from group companies due to lack of response from the assessee. However, it reversed the disallowance of Rs. 6,96,450, allowing depreciation as the assessee provided sufficient evidence. Regarding the addition under Section 41(1) for cessation of liability, the Tribunal upheld the CIT(A)'s decision to delete the Rs. 59,24,478 addition, as there was no evidence of liabilities ceasing during the relevant assessment year. The Tribunal partially allowed the Revenue's appeal, dismissing the appeal on cessation of liability under section 41(1). en-us Fri, 23 Oct 2015 00:00:00 +0530 Thu, 14 Jan 2016 11:53:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270743 The Tribunal upheld the disallowance of Rs. 28,563 for depreciation on machinery purchased from group companies due to lack of response from the assessee. However, it reversed the disallowance of Rs. 6,96,450, allowing depreciation as the assessee provided sufficient evidence. Regarding the addition under Section 41(1) for cessation of liability, the Tribunal upheld the CIT(A)'s decision to delete the Rs. 59,24,478 addition, as there was no evidence of liabilities ceasing during the relevant assessment year. The Tribunal partially allowed the Revenue's appeal, dismissing the appeal on cessation of liability under section 41(1). Case-Laws Income Tax Fri, 23 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270743