https://www.taxtmi.com/caselaws?id=188414 The tribunal dismissed both revenue appeals, affirming the CIT(A)'s decision on depreciation for imported machinery and Visi Refrigerators for Assessment Years 2004-05 and 2005-06. The court found that the machinery was crucial for the assessee's business and that the refrigerators served a business purpose at dealers' premises. The tribunal rejected the revenue's arguments of non-business use, upholding the depreciation claims based on the necessity and usage of the assets in the respective business operations. en-us Thu, 18 Feb 2010 00:00:00 +0530 Wed, 30 Nov 2016 15:06:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188414 The tribunal dismissed both revenue appeals, affirming the CIT(A)'s decision on depreciation for imported machinery and Visi Refrigerators for Assessment Years 2004-05 and 2005-06. The court found that the machinery was crucial for the assessee's business and that the refrigerators served a business purpose at dealers' premises. The tribunal rejected the revenue's arguments of non-business use, upholding the depreciation claims based on the necessity and usage of the assets in the respective business operations. Case-Laws Income Tax Thu, 18 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188414