https://www.taxtmi.com/caselaws?id=377389 The High Court upheld the Tribunal's decisions in favor of the assessee on various issues, including the justification of the Equated Monthly Instalment (EMI) method for income tax purposes, the Sum of Digits (SOD) method for financial statements, and the legitimacy of using different accounting methods. The Court also ruled in favor of the assessee regarding depreciation claims on assets with allegedly bogus invoices, assets in sale-cum-lease transactions, and assets with enhanced value. Additionally, the Court affirmed the treatment of "lease rentals" as payments of principal and interest, even for non-existent assets. en-us Wed, 27 Feb 2019 00:00:00 +0530 Mon, 27 Jul 2020 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377389 The High Court upheld the Tribunal's decisions in favor of the assessee on various issues, including the justification of the Equated Monthly Instalment (EMI) method for income tax purposes, the Sum of Digits (SOD) method for financial statements, and the legitimacy of using different accounting methods. The Court also ruled in favor of the assessee regarding depreciation claims on assets with allegedly bogus invoices, assets in sale-cum-lease transactions, and assets with enhanced value. Additionally, the Court affirmed the treatment of "lease rentals" as payments of principal and interest, even for non-existent assets. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377389