https://www.taxtmi.com/caselaws?id=330326 The High Court dismissed the Revenue's appeal challenging the Tribunal's decision on capital loss of shares, depreciation on leased assets, and penalty imposition. The Court upheld the Tribunal's findings, stating the Revenue's grounds were unsustainable in law. The Court also rejected the Revenue's appeal for both assessment years, as previous decisions favored the assessee. The genuineness of the depreciation claim for air pollution control equipment was acknowledged, leading to the dismissal of the appeal. en-us Mon, 11 Jul 2016 00:00:00 +0530 Fri, 22 Jul 2016 14:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330326 The High Court dismissed the Revenue's appeal challenging the Tribunal's decision on capital loss of shares, depreciation on leased assets, and penalty imposition. The Court upheld the Tribunal's findings, stating the Revenue's grounds were unsustainable in law. The Court also rejected the Revenue's appeal for both assessment years, as previous decisions favored the assessee. The genuineness of the depreciation claim for air pollution control equipment was acknowledged, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 11 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330326