https://www.taxtmi.com/caselaws?id=351472 The ITAT allowed the appeal, ruling in favor of the assessee regarding the disallowance of depreciation. The ITAT found that the AO failed to provide sufficient evidence to support the disallowance and improperly invoked Section 43(1) Explanation 3 of the Income Tax Act. The ITAT emphasized the importance of substantiating claims with evidence and following legal provisions correctly. As a result, the disallowance of depreciation amounting to Rs. 6,77,095/- was deleted, and the appeal of the assessee was allowed. en-us Thu, 23 Nov 2017 00:00:00 +0530 Fri, 24 Nov 2017 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351472 The ITAT allowed the appeal, ruling in favor of the assessee regarding the disallowance of depreciation. The ITAT found that the AO failed to provide sufficient evidence to support the disallowance and improperly invoked Section 43(1) Explanation 3 of the Income Tax Act. The ITAT emphasized the importance of substantiating claims with evidence and following legal provisions correctly. As a result, the disallowance of depreciation amounting to Rs. 6,77,095/- was deleted, and the appeal of the assessee was allowed. Case-Laws Income Tax Thu, 23 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351472