https://www.taxtmi.com/caselaws?id=366980 The High Court of Calcutta upheld the decision of the Appellate Tribunal, dismissing appeals related to two issues. Firstly, the Tribunal found that the Commissioner's order for a fresh assessment under Section 263 of the Income Tax Act was unwarranted, as the alleged fraudulent transactions were deemed genuine. Secondly, the Tribunal allowed the assessee's claim for enhanced depreciation on a vehicle used for business purposes, despite not being rented out. The judgment emphasizes factual analysis in tax cases and the Tribunal's discretion in reviewing orders under the Income Tax Act. en-us Thu, 17 May 2018 00:00:00 +0530 Wed, 12 Sep 2018 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366980 The High Court of Calcutta upheld the decision of the Appellate Tribunal, dismissing appeals related to two issues. Firstly, the Tribunal found that the Commissioner's order for a fresh assessment under Section 263 of the Income Tax Act was unwarranted, as the alleged fraudulent transactions were deemed genuine. Secondly, the Tribunal allowed the assessee's claim for enhanced depreciation on a vehicle used for business purposes, despite not being rented out. The judgment emphasizes factual analysis in tax cases and the Tribunal's discretion in reviewing orders under the Income Tax Act. Case-Laws Income Tax Thu, 17 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366980