https://www.taxtmi.com/caselaws?id=2608 The judgment upheld the deletion of penalty for the depreciation claim on the biogas plant, emphasizing a liberal interpretation of 'used for the purposes of the business' and the importance of strict construction of penal provisions under the Income Tax Act. The Court supported the Assessee's explanation for the depreciation claim, stating that it was a plausible interpretation of the law, and dismissed the Revenue's appeal. en-us Fri, 11 Jan 2008 00:00:00 +0530 Thu, 31 Jul 2008 09:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2608 The judgment upheld the deletion of penalty for the depreciation claim on the biogas plant, emphasizing a liberal interpretation of 'used for the purposes of the business' and the importance of strict construction of penal provisions under the Income Tax Act. The Court supported the Assessee's explanation for the depreciation claim, stating that it was a plausible interpretation of the law, and dismissed the Revenue's appeal. Case-Laws Income Tax Fri, 11 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2608