https://www.taxtmi.com/caselaws?id=339214 The appellant successfully appealed against the Assessing Officer's disallowance of depreciation claim and assessment of short term capital gains under Section 50 of the Income Tax Act for the assessment year 2009-10. The appellate tribunal allowed the appellant to merge the block of assets of plant and machinery with motor vehicles, considering them to form a single category of block of assets based on relevant provisions. The Assessing Officer was directed to make necessary adjustments according to the revised depreciation schedule, resulting in the appellant's appeal being allowed on February 13, 2017. en-us Mon, 13 Feb 2017 00:00:00 +0530 Sat, 18 Feb 2017 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339214 The appellant successfully appealed against the Assessing Officer's disallowance of depreciation claim and assessment of short term capital gains under Section 50 of the Income Tax Act for the assessment year 2009-10. The appellate tribunal allowed the appellant to merge the block of assets of plant and machinery with motor vehicles, considering them to form a single category of block of assets based on relevant provisions. The Assessing Officer was directed to make necessary adjustments according to the revised depreciation schedule, resulting in the appellant's appeal being allowed on February 13, 2017. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339214