https://www.taxtmi.com/caselaws?id=385533 The Tribunal dismissed the Revenue's appeals based on CBDT Circular No. 17/2019, allowing depreciation on surrendered income for A.Y 2006-07 and deleting disallowances for A.Y 2007-08. It upheld the assessee's claims for business expenditure and shipment discount, directing the Assessing Officer to allow these deductions. Additionally, it directed the allowance of depreciation on plant and machinery purchased from the surrendered amount. The order was pronounced on 28.08.2019. en-us Wed, 28 Aug 2019 00:00:00 +0530 Fri, 06 Sep 2019 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385533 The Tribunal dismissed the Revenue's appeals based on CBDT Circular No. 17/2019, allowing depreciation on surrendered income for A.Y 2006-07 and deleting disallowances for A.Y 2007-08. It upheld the assessee's claims for business expenditure and shipment discount, directing the Assessing Officer to allow these deductions. Additionally, it directed the allowance of depreciation on plant and machinery purchased from the surrendered amount. The order was pronounced on 28.08.2019. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385533