https://www.taxtmi.com/caselaws?id=335593 The Appellate Tribunal ITAT Mumbai upheld the disallowance of depreciation on unpaid customs duty and the addition of notional interest on advances to a subsidiary. The Tribunal ruled against the assessee on these grounds, confirming the decisions of the Assessing Officer and the First Appellate Authority. However, the Tribunal ruled in favor of the assessee regarding the reversal of provision for doubtful debts and bad debts, deleting the addition made by the AO. Overall, the Tribunal dismissed the appeals filed by both parties. en-us Wed, 16 Nov 2016 00:00:00 +0530 Mon, 05 Dec 2016 14:53:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335593 The Appellate Tribunal ITAT Mumbai upheld the disallowance of depreciation on unpaid customs duty and the addition of notional interest on advances to a subsidiary. The Tribunal ruled against the assessee on these grounds, confirming the decisions of the Assessing Officer and the First Appellate Authority. However, the Tribunal ruled in favor of the assessee regarding the reversal of provision for doubtful debts and bad debts, deleting the addition made by the AO. Overall, the Tribunal dismissed the appeals filed by both parties. Case-Laws Income Tax Wed, 16 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335593