https://www.taxtmi.com/caselaws?id=341375 The Tribunal partially allowed the assessee's appeals, directing the AO to allow depreciation on assets leased out, except for motor vehicles. The Tribunal emphasized the importance of providing the assessee with the opportunity to rebut evidence and highlighted that penalties should not be imposed for debatable issues. The appeals filed by the Revenue were dismissed, and the deletion of penalties by the CIT(A) was upheld. en-us Tue, 21 Mar 2017 00:00:00 +0530 Fri, 07 Apr 2017 08:05:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341375 The Tribunal partially allowed the assessee's appeals, directing the AO to allow depreciation on assets leased out, except for motor vehicles. The Tribunal emphasized the importance of providing the assessee with the opportunity to rebut evidence and highlighted that penalties should not be imposed for debatable issues. The appeals filed by the Revenue were dismissed, and the deletion of penalties by the CIT(A) was upheld. Case-Laws Income Tax Tue, 21 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341375