https://www.taxtmi.com/caselaws?id=281858 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to allow depreciation on the Written Down Value (WDV) of assets, even for assets acquired during exemption periods. It confirmed that WDV should be based on book depreciation and allowed direct pension payments to retired employees as business expenses. The Tribunal remitted the matter back to the Assessing Officer for clarity on depreciation computation. The Revenue's appeal for 2009-2010 was allowed for statistical purposes, and appeals for 2010-2011 and 2012-2013 were partly allowed for statistical purposes. en-us Thu, 22 Feb 2018 00:00:00 +0530 Wed, 10 Jul 2019 06:37:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281858 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to allow depreciation on the Written Down Value (WDV) of assets, even for assets acquired during exemption periods. It confirmed that WDV should be based on book depreciation and allowed direct pension payments to retired employees as business expenses. The Tribunal remitted the matter back to the Assessing Officer for clarity on depreciation computation. The Revenue's appeal for 2009-2010 was allowed for statistical purposes, and appeals for 2010-2011 and 2012-2013 were partly allowed for statistical purposes. Case-Laws Income Tax Thu, 22 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281858