https://www.taxtmi.com/caselaws?id=284866 The Court dismissed the Revenue's appeal, upholding the decisions of the ITAT on all three grounds of challenge. The Court disagreed with the AO's disallowance of the claim of loss on the investment's fall in value, supported by legal precedents. It upheld the ITAT's decision to allow the Assessee to raise an additional ground on deduction claimed under Section 36(1)(vii) and remand the issue. Additionally, the Court supported the deletion of the excess claim of depreciation on LAN/WAN equipment, finding it essential for computer systems in a business context. en-us Wed, 11 May 2016 00:00:00 +0530 Sat, 14 Dec 2019 10:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284866 The Court dismissed the Revenue's appeal, upholding the decisions of the ITAT on all three grounds of challenge. The Court disagreed with the AO's disallowance of the claim of loss on the investment's fall in value, supported by legal precedents. It upheld the ITAT's decision to allow the Assessee to raise an additional ground on deduction claimed under Section 36(1)(vii) and remand the issue. Additionally, the Court supported the deletion of the excess claim of depreciation on LAN/WAN equipment, finding it essential for computer systems in a business context. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284866