https://www.taxtmi.com/caselaws?id=177996 The Tribunal dismissed the appeal filed by the assessee, upholding the decision of the Ld. Commissioner of Income Tax (Appeals) to disallow depreciation on plant and machinery. The delay in filing the appeal was condoned due to financial constraints and employee turnover, but the Tribunal found no merit in the claim for depreciation as the assessee had not resumed manufacturing activities despite claiming depreciation on plant and machinery. The Tribunal concluded that trading activity did not qualify as manufacturing activity, affirming the disallowance of the depreciation claim. en-us Thu, 23 Dec 2010 00:00:00 +0530 Mon, 25 Jan 2016 14:43:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177996 The Tribunal dismissed the appeal filed by the assessee, upholding the decision of the Ld. Commissioner of Income Tax (Appeals) to disallow depreciation on plant and machinery. The delay in filing the appeal was condoned due to financial constraints and employee turnover, but the Tribunal found no merit in the claim for depreciation as the assessee had not resumed manufacturing activities despite claiming depreciation on plant and machinery. The Tribunal concluded that trading activity did not qualify as manufacturing activity, affirming the disallowance of the depreciation claim. Case-Laws Income Tax Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177996