https://www.taxtmi.com/caselaws?id=351113 The Tribunal upheld the CIT(A)'s decision to allow the assessee's claim of depreciation, dismissing the revenue's appeal against the disallowance by the assessing officer. The Tribunal found that the assessee had business receipts in preceding and subsequent years, and the asset was part of the block for which depreciation was previously allowed. The Tribunal concluded that there was no reason to interfere with the CIT(A)'s order, relying on a decision of the Bombay High Court to support its decision. en-us Wed, 15 Nov 2017 00:00:00 +0530 Sat, 18 Nov 2017 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351113 The Tribunal upheld the CIT(A)'s decision to allow the assessee's claim of depreciation, dismissing the revenue's appeal against the disallowance by the assessing officer. The Tribunal found that the assessee had business receipts in preceding and subsequent years, and the asset was part of the block for which depreciation was previously allowed. The Tribunal concluded that there was no reason to interfere with the CIT(A)'s order, relying on a decision of the Bombay High Court to support its decision. Case-Laws Income Tax Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351113