https://www.taxtmi.com/caselaws?id=347488 The Tribunal allowed the appellant's appeal regarding the disallowance of depreciation amounting to Rs. 17,69,550 by the lower authorities. The Tribunal held that the appellant was entitled to claim depreciation on capital assets used for business activities, relying on judicial precedents and interpreting relevant tax laws. The Tribunal overturned the Commissioner of Income Tax (Appeals) decision and deleted the disallowed amount, stating that the view favorable to the assessee should apply in case of multiple interpretations. en-us Fri, 01 Sep 2017 00:00:00 +0530 Tue, 05 Sep 2017 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347488 The Tribunal allowed the appellant's appeal regarding the disallowance of depreciation amounting to Rs. 17,69,550 by the lower authorities. The Tribunal held that the appellant was entitled to claim depreciation on capital assets used for business activities, relying on judicial precedents and interpreting relevant tax laws. The Tribunal overturned the Commissioner of Income Tax (Appeals) decision and deleted the disallowed amount, stating that the view favorable to the assessee should apply in case of multiple interpretations. Case-Laws Income Tax Fri, 01 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347488