https://www.taxtmi.com/caselaws?id=325925 The Tribunal partly allowed the appeal by reversing the disallowance of Rs. 12,51,610/- based on consistency and business expediency. The issue of depreciation was remanded to the AO for reassessment under Section 38(2). The adjustment of past losses, as directed by the CIT(A), did not necessitate additional review. The challenge to the validity of the assessment was not elaborated upon and remained unresolved. en-us Wed, 30 Mar 2016 00:00:00 +0530 Fri, 01 Apr 2016 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325925 The Tribunal partly allowed the appeal by reversing the disallowance of Rs. 12,51,610/- based on consistency and business expediency. The issue of depreciation was remanded to the AO for reassessment under Section 38(2). The adjustment of past losses, as directed by the CIT(A), did not necessitate additional review. The challenge to the validity of the assessment was not elaborated upon and remained unresolved. Case-Laws Income Tax Wed, 30 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325925