https://www.taxtmi.com/caselaws?id=367143 The court upheld the decision of the Income Tax Appellate Tribunal regarding undisclosed interest income, stating no question of law arose. It affirmed the right of the assessee to claim depreciation on assets purchased with exempted funds under section 35AC, following precedent on charitable trusts and depreciation allowances. The court dismissed the Tax Appeal, allowing the depreciation claim on assets used for business purposes. en-us Tue, 11 Sep 2018 00:00:00 +0530 Sat, 15 Sep 2018 07:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367143 The court upheld the decision of the Income Tax Appellate Tribunal regarding undisclosed interest income, stating no question of law arose. It affirmed the right of the assessee to claim depreciation on assets purchased with exempted funds under section 35AC, following precedent on charitable trusts and depreciation allowances. The court dismissed the Tax Appeal, allowing the depreciation claim on assets used for business purposes. Case-Laws Income Tax Tue, 11 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367143