https://www.taxtmi.com/caselaws?id=329335 The High Court dismissed the appeals, upholding the Tribunal's decision to allow depreciation on capital assets as a legitimate deduction, distinguishing it from double deduction. The Court also affirmed the deletion of additions related to unexplained payments and interest accrued, emphasizing the application of income principles. The decision was based on established legal principles and precedents, supporting the assessee's position and rejecting the revenue's contentions. en-us Mon, 21 Mar 2016 00:00:00 +0530 Wed, 29 Jun 2016 20:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329335 The High Court dismissed the appeals, upholding the Tribunal's decision to allow depreciation on capital assets as a legitimate deduction, distinguishing it from double deduction. The Court also affirmed the deletion of additions related to unexplained payments and interest accrued, emphasizing the application of income principles. The decision was based on established legal principles and precedents, supporting the assessee's position and rejecting the revenue's contentions. Case-Laws Income Tax Mon, 21 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329335