https://www.taxtmi.com/caselaws?id=181325 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions regarding the claim of loss on sale of repossessed assets and the depreciation claim on computers. The Tribunal held that the deduction claimed by the assessee for the loss on sale of repossessed assets was admissible under Section 36 of the Income Tax Act as a write-off of bad debts, not a trading loss. Additionally, the Tribunal agreed with the CIT(A) that depreciation at 60% on computer accessories and peripherals was allowable, treating them as part of computers based on a Kolkata ITAT decision. en-us Fri, 13 Nov 2009 00:00:00 +0530 Wed, 13 Apr 2016 15:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181325 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions regarding the claim of loss on sale of repossessed assets and the depreciation claim on computers. The Tribunal held that the deduction claimed by the assessee for the loss on sale of repossessed assets was admissible under Section 36 of the Income Tax Act as a write-off of bad debts, not a trading loss. Additionally, the Tribunal agreed with the CIT(A) that depreciation at 60% on computer accessories and peripherals was allowable, treating them as part of computers based on a Kolkata ITAT decision. Case-Laws Income Tax Fri, 13 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181325