https://www.taxtmi.com/caselaws?id=189407 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to allow depreciation on fixed assets, rejecting the Assessing Officer's appeal. The Tribunal emphasized consistency with past rulings and the legal position established by the High Court, dismissing concerns of double deduction. The set off of deficit against income was also allowed, following previous decisions. The order was pronounced on June 16, 2015, affirming the allowance of depreciation and dismissing the AO's contentions. en-us Tue, 16 Jun 2015 00:00:00 +0530 Sun, 08 Jan 2017 19:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189407 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to allow depreciation on fixed assets, rejecting the Assessing Officer's appeal. The Tribunal emphasized consistency with past rulings and the legal position established by the High Court, dismissing concerns of double deduction. The set off of deficit against income was also allowed, following previous decisions. The order was pronounced on June 16, 2015, affirming the allowance of depreciation and dismissing the AO's contentions. Case-Laws Income Tax Tue, 16 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189407