https://www.taxtmi.com/caselaws?id=9654 The High Court upheld the Income-tax Appellate Tribunal's decision, ruling in favor of the assessee and allowing full depreciation for electrical yarn cleaners, rejecting the Revenue's argument to restrict depreciation to 50% for assets used for less than 180 days. The court emphasized the binding nature of Central Board of Direct Taxes circulars and cited precedent to support the assessee's entitlement to full depreciation. No significant legal issues were found, leading to the dismissal of the tax case without costs. en-us Mon, 06 Feb 2006 00:00:00 +0530 Sun, 28 Jun 2009 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9654 The High Court upheld the Income-tax Appellate Tribunal's decision, ruling in favor of the assessee and allowing full depreciation for electrical yarn cleaners, rejecting the Revenue's argument to restrict depreciation to 50% for assets used for less than 180 days. The court emphasized the binding nature of Central Board of Direct Taxes circulars and cited precedent to support the assessee's entitlement to full depreciation. No significant legal issues were found, leading to the dismissal of the tax case without costs. Case-Laws Income Tax Mon, 06 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9654