https://www.taxtmi.com/caselaws?id=181115 The Tribunal upheld the CIT(A)'s decision regarding the deletion of depreciation addition under section 11 of the Income Tax Act, 1961. The department's appeal was dismissed, affirming that depreciation is a legitimate deduction in computing the assessee's real income, in line with precedents set by the Bombay High Court and the Punjab & Haryana High Court. The decision emphasized that claiming both capital expenditure and depreciation would amount to double deduction, as established in relevant case law. en-us Wed, 10 Aug 2011 00:00:00 +0530 Thu, 07 Apr 2016 17:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181115 The Tribunal upheld the CIT(A)'s decision regarding the deletion of depreciation addition under section 11 of the Income Tax Act, 1961. The department's appeal was dismissed, affirming that depreciation is a legitimate deduction in computing the assessee's real income, in line with precedents set by the Bombay High Court and the Punjab & Haryana High Court. The decision emphasized that claiming both capital expenditure and depreciation would amount to double deduction, as established in relevant case law. Case-Laws Income Tax Wed, 10 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181115