https://www.taxtmi.com/caselaws?id=180164 The Chennai Bench of the Income Tax Appellate Tribunal upheld the order allowing depreciation on an asset previously considered as application of income under Section 11 of the Income-tax Act, 1961. The Tribunal dismissed the Revenue's appeal, citing consistent precedents supporting the assessee's claim for depreciation on such assets. The decision was rendered on 8th May 2015 in Chennai. en-us Fri, 08 May 2015 00:00:00 +0530 Fri, 18 Mar 2016 10:03:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180164 The Chennai Bench of the Income Tax Appellate Tribunal upheld the order allowing depreciation on an asset previously considered as application of income under Section 11 of the Income-tax Act, 1961. The Tribunal dismissed the Revenue's appeal, citing consistent precedents supporting the assessee's claim for depreciation on such assets. The decision was rendered on 8th May 2015 in Chennai. Case-Laws Income Tax Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180164