https://www.taxtmi.com/caselaws?id=351776 The Tribunal ruled in favor of the assessee on all counts in the case. It allowed depreciation on leased out assets, citing consistency with a previous decision and various circumstances supporting the allowance. Additionally, it held that broken period interest should not be considered part of the cost of securities based on precedent, directing the deletion of the addition. Regarding the disallowance under section 14A r.w.r 8D, the Tribunal found the AO's lack of satisfaction in rejecting the assessee's claim, leading to the deletion of the disallowed expenses and ultimately dismissing the revenue's appeal. en-us Fri, 24 Nov 2017 00:00:00 +0530 Fri, 01 Dec 2017 08:30:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351776 The Tribunal ruled in favor of the assessee on all counts in the case. It allowed depreciation on leased out assets, citing consistency with a previous decision and various circumstances supporting the allowance. Additionally, it held that broken period interest should not be considered part of the cost of securities based on precedent, directing the deletion of the addition. Regarding the disallowance under section 14A r.w.r 8D, the Tribunal found the AO's lack of satisfaction in rejecting the assessee's claim, leading to the deletion of the disallowed expenses and ultimately dismissing the revenue's appeal. Case-Laws Income Tax Fri, 24 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351776