https://www.taxtmi.com/caselaws?id=193571 The Tribunal held that depreciation is an allowance, not expenditure, in computing deductible income under section 10(29) of the Income Tax Act. Relying on precedents, the Tribunal dismissed all five appeals by the Department, affirming that depreciation should not be included in the computation to reduce the tax liability of the assessee. en-us Fri, 29 Jul 2016 00:00:00 +0530 Mon, 07 Aug 2017 11:20:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193571 The Tribunal held that depreciation is an allowance, not expenditure, in computing deductible income under section 10(29) of the Income Tax Act. Relying on precedents, the Tribunal dismissed all five appeals by the Department, affirming that depreciation should not be included in the computation to reduce the tax liability of the assessee. Case-Laws Income Tax Fri, 29 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193571