https://www.taxtmi.com/caselaws?id=275064 The Tribunal dismissed the Revenue's appeal and partially allowed the assessee's appeal. The Tribunal directed the Assessing Officer to recompute the loss from truck plying, restrict the disallowance of vehicle running expenses to 1/3rd, and allow the claim of depreciation in full as per law. The addition made under section 68 for the gift received in the form of RIB Bonds was deleted, as the genuineness of the transaction was established. The addition for the credit in the name of M/s. Ranjeet Securities Limited was also deleted. en-us Mon, 26 Mar 2012 00:00:00 +0530 Mon, 17 Sep 2018 15:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275064 The Tribunal dismissed the Revenue's appeal and partially allowed the assessee's appeal. The Tribunal directed the Assessing Officer to recompute the loss from truck plying, restrict the disallowance of vehicle running expenses to 1/3rd, and allow the claim of depreciation in full as per law. The addition made under section 68 for the gift received in the form of RIB Bonds was deleted, as the genuineness of the transaction was established. The addition for the credit in the name of M/s. Ranjeet Securities Limited was also deleted. Case-Laws Income Tax Mon, 26 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275064