https://www.taxtmi.com/caselaws?id=382266 The Tribunal dismissed the Revenue's appeals challenging the disallowance of excess depreciation claimed by the assessee on assets not considered commercial vehicles, upholding the CIT (A) decision. The Tribunal emphasized the assets were indeed motor vehicles eligible for higher depreciation, citing relevant case laws and the AO's initial allowance of 40% depreciation as a conscious decision. Additionally, the Tribunal partly allowed the Cross Objection filed by the assessee, remanding the leave encashment issue and deeming the ad hoc disallowance of labour expenses unsustainable without rejecting the books of account. en-us Wed, 15 May 2019 00:00:00 +0530 Fri, 28 Jun 2019 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382266 The Tribunal dismissed the Revenue's appeals challenging the disallowance of excess depreciation claimed by the assessee on assets not considered commercial vehicles, upholding the CIT (A) decision. The Tribunal emphasized the assets were indeed motor vehicles eligible for higher depreciation, citing relevant case laws and the AO's initial allowance of 40% depreciation as a conscious decision. Additionally, the Tribunal partly allowed the Cross Objection filed by the assessee, remanding the leave encashment issue and deeming the ad hoc disallowance of labour expenses unsustainable without rejecting the books of account. Case-Laws Income Tax Wed, 15 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382266