https://www.taxtmi.com/caselaws?id=330727 The High Court upheld the respondent's arguments in the challenge to the Tribunal judgment for Assessment Year 2003-2004. The Court clarified the interpretation of depreciation allowance on the original value of assets and the classification of assets for depreciation under Sec. 32 of the Income Tax Act, ruling in favor of the respondent on all three issues raised. en-us Tue, 05 Jul 2016 00:00:00 +0530 Thu, 04 Aug 2016 11:32:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330727 The High Court upheld the respondent's arguments in the challenge to the Tribunal judgment for Assessment Year 2003-2004. The Court clarified the interpretation of depreciation allowance on the original value of assets and the classification of assets for depreciation under Sec. 32 of the Income Tax Act, ruling in favor of the respondent on all three issues raised. Case-Laws Income Tax Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330727