https://www.taxtmi.com/caselaws?id=180698 The Tribunal upheld the CIT(A)'s decisions on all grounds, dismissing the Revenue's appeal regarding the disallowance of depreciation on a car, interest expenses, business loss, and bad debts. The Tribunal emphasized that non-registration of the car under the Motor Vehicles Act did not disentitle the company from claiming depreciation. Additionally, it noted that the AO did not provide sufficient justification for rejecting the books and that the Revenue failed to dispute the genuineness of the bad debts write-off. The order was pronounced on 21-01-2011. en-us Fri, 21 Jan 2011 00:00:00 +0530 Thu, 31 Mar 2016 16:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180698 The Tribunal upheld the CIT(A)'s decisions on all grounds, dismissing the Revenue's appeal regarding the disallowance of depreciation on a car, interest expenses, business loss, and bad debts. The Tribunal emphasized that non-registration of the car under the Motor Vehicles Act did not disentitle the company from claiming depreciation. Additionally, it noted that the AO did not provide sufficient justification for rejecting the books and that the Revenue failed to dispute the genuineness of the bad debts write-off. The order was pronounced on 21-01-2011. Case-Laws Income Tax Fri, 21 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180698