https://www.taxtmi.com/caselaws?id=186379 The High Court affirmed the Tribunal's decision, ruling in favor of the assessee's ownership of windmills and entitlement to claim depreciation under section 32 of the Income Tax Act for the assessment years 1997-98 and 1998-99. The court found sufficient evidence of possession, income declaration, board approval for purchase, and loan repayment by the assessee, dismissing the Revenue's appeal. The Tribunal's consideration of grounds and conclusion were upheld, with the High Court finding no errors in fact appreciation, ultimately closing related petitions without costs. en-us Mon, 05 Apr 2010 00:00:00 +0530 Thu, 15 Sep 2016 18:10:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186379 The High Court affirmed the Tribunal's decision, ruling in favor of the assessee's ownership of windmills and entitlement to claim depreciation under section 32 of the Income Tax Act for the assessment years 1997-98 and 1998-99. The court found sufficient evidence of possession, income declaration, board approval for purchase, and loan repayment by the assessee, dismissing the Revenue's appeal. The Tribunal's consideration of grounds and conclusion were upheld, with the High Court finding no errors in fact appreciation, ultimately closing related petitions without costs. Case-Laws Income Tax Mon, 05 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186379