https://www.taxtmi.com/caselaws?id=199102 The ITAT Pune dismissed the Revenue's appeal and affirmed the CIT(A)'s order allowing the depreciation claim on vehicles owned by the Directors of the assessee for A.Y. 2006-07. The ITAT Pune found the issue to be settled based on a previous decision of the Pune Bench of the Tribunal, which held that depreciation is allowable for motor cars used in business, even if registered in the name of the Managing Director. en-us Wed, 11 May 2011 00:00:00 +0530 Tue, 20 Feb 2018 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199102 The ITAT Pune dismissed the Revenue's appeal and affirmed the CIT(A)'s order allowing the depreciation claim on vehicles owned by the Directors of the assessee for A.Y. 2006-07. The ITAT Pune found the issue to be settled based on a previous decision of the Pune Bench of the Tribunal, which held that depreciation is allowable for motor cars used in business, even if registered in the name of the Managing Director. Case-Laws Income Tax Wed, 11 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199102