https://www.taxtmi.com/caselaws?id=285171 The tribunal partially ruled in favor of the assessee in an appeal involving disputes over a trading account addition of Rs. 4,000 and the non-allowance of depreciation on a truck. The addition of Rs. 4,000 to the trading account was upheld based on past history and account defects. However, the tribunal allowed depreciation on the truck despite legal ownership by another individual, as the assessee had control and used it for business purposes, citing precedent cases supporting depreciation entitlement in similar circumstances. en-us Wed, 10 Jan 1979 00:00:00 +0530 Tue, 31 Dec 2019 17:13:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285171 The tribunal partially ruled in favor of the assessee in an appeal involving disputes over a trading account addition of Rs. 4,000 and the non-allowance of depreciation on a truck. The addition of Rs. 4,000 to the trading account was upheld based on past history and account defects. However, the tribunal allowed depreciation on the truck despite legal ownership by another individual, as the assessee had control and used it for business purposes, citing precedent cases supporting depreciation entitlement in similar circumstances. Case-Laws Income Tax Wed, 10 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285171