https://www.taxtmi.com/caselaws?id=184902 The Tribunal partly allowed the departmental appeal by confirming the rejection of books of account and applying a net profit rate of 7%. The issue of allowing depreciation separately claimed by the assessee was addressed, with the Tribunal deciding in favor of the assessee based on a previous decision affirmed by the Punjab & Haryana High Court. The Tribunal maintained the earlier decision partially allowing the departmental appeal and dismissed the revenue's argument against allowing depreciation separately. The departmental Miscellaneous Application was disposed of accordingly. en-us Tue, 15 Dec 2015 00:00:00 +0530 Sat, 23 Jul 2016 20:31:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184902 The Tribunal partly allowed the departmental appeal by confirming the rejection of books of account and applying a net profit rate of 7%. The issue of allowing depreciation separately claimed by the assessee was addressed, with the Tribunal deciding in favor of the assessee based on a previous decision affirmed by the Punjab & Haryana High Court. The Tribunal maintained the earlier decision partially allowing the departmental appeal and dismissed the revenue's argument against allowing depreciation separately. The departmental Miscellaneous Application was disposed of accordingly. Case-Laws Income Tax Tue, 15 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184902