https://www.taxtmi.com/caselaws?id=349071 The Tribunal upheld the decision of the Ld. CIT(A) to allow only 50% of the depreciation amount claimed by the assessee for fixed assets, as the business activities had ceased when the assessee became a partner in another concern. The Ld. CIT(A) also confirmed the disallowance of expenses claimed by the assessee, including security fees, as they were incurred until the business closure in September 2011. The Tribunal found no reason to interfere with the Ld. CIT(A)'s orders, dismissing the appeal and confirming the depreciation allowance and disallowance of expenses. en-us Wed, 16 Aug 2017 00:00:00 +0530 Fri, 06 Oct 2017 06:52:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349071 The Tribunal upheld the decision of the Ld. CIT(A) to allow only 50% of the depreciation amount claimed by the assessee for fixed assets, as the business activities had ceased when the assessee became a partner in another concern. The Ld. CIT(A) also confirmed the disallowance of expenses claimed by the assessee, including security fees, as they were incurred until the business closure in September 2011. The Tribunal found no reason to interfere with the Ld. CIT(A)'s orders, dismissing the appeal and confirming the depreciation allowance and disallowance of expenses. Case-Laws Income Tax Wed, 16 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349071