https://www.taxtmi.com/caselaws?id=359671 In the case, the Tribunal ruled in favor of the appellant in the quantum proceedings, allowing depreciation and capital expenditure claims and granting benefits under sections 11 and 12. The penalty under section 271(1)(c) was deemed unwarranted due to the reduction in taxable income. The Tribunal emphasized the importance of reflecting depreciation in accounts to avoid double claims. The orders were pronounced on April 20, 2018. en-us Fri, 20 Apr 2018 00:00:00 +0530 Thu, 03 May 2018 06:34:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359671 In the case, the Tribunal ruled in favor of the appellant in the quantum proceedings, allowing depreciation and capital expenditure claims and granting benefits under sections 11 and 12. The penalty under section 271(1)(c) was deemed unwarranted due to the reduction in taxable income. The Tribunal emphasized the importance of reflecting depreciation in accounts to avoid double claims. The orders were pronounced on April 20, 2018. Case-Laws Income Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359671