https://www.taxtmi.com/caselaws?id=338467 The tribunal partly allowed the assessee's appeal regarding the disallowance of depreciation on plant and machinery and electric installation, repairs incurred, and interest expenditure. The tribunal emphasized the need for detailed substantiation and verification of the claims, directing the Assessing Officer to re-examine the issues based on specific findings of fact. The tribunal also clarified the prerequisites for claiming depreciation and the treatment of borrowed funds diverted for investment in shares. The tribunal's decision resulted in a partial allowance of the assessee's appeal and a partial allowance of the Revenue's appeal for statistical purposes, with directions for further examination by the AO. en-us Wed, 18 Jan 2017 00:00:00 +0530 Sat, 04 Feb 2017 12:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338467 The tribunal partly allowed the assessee's appeal regarding the disallowance of depreciation on plant and machinery and electric installation, repairs incurred, and interest expenditure. The tribunal emphasized the need for detailed substantiation and verification of the claims, directing the Assessing Officer to re-examine the issues based on specific findings of fact. The tribunal also clarified the prerequisites for claiming depreciation and the treatment of borrowed funds diverted for investment in shares. The tribunal's decision resulted in a partial allowance of the assessee's appeal and a partial allowance of the Revenue's appeal for statistical purposes, with directions for further examination by the AO. Case-Laws Income Tax Wed, 18 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338467