https://www.taxtmi.com/caselaws?id=179172 The Tribunal upheld the decision of the Ld. CIT(A) to allow depreciation on fixed assets, rejecting the department's claim of possible double deduction. Relying on relevant case law and the absence of contradictory judgments, the Tribunal dismissed the department's appeal, affirming the allowance of depreciation for the assessment year 2007-08. The decision emphasized that allowing depreciation for computing income under Section 11 did not lead to double deduction, in line with previous judgments and specific case circumstances. en-us Fri, 09 Dec 2011 00:00:00 +0530 Thu, 31 Aug 2017 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179172 The Tribunal upheld the decision of the Ld. CIT(A) to allow depreciation on fixed assets, rejecting the department's claim of possible double deduction. Relying on relevant case law and the absence of contradictory judgments, the Tribunal dismissed the department's appeal, affirming the allowance of depreciation for the assessment year 2007-08. The decision emphasized that allowing depreciation for computing income under Section 11 did not lead to double deduction, in line with previous judgments and specific case circumstances. Case-Laws Income Tax Fri, 09 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179172