https://www.taxtmi.com/caselaws?id=394582 The Appellate Tribunal ITAT Mumbai allowed the appeal filed by the assessee, overturning the disallowance of depreciation claimed and the treatment of Original Cost of Fixed Assets for depreciation calculation. The Tribunal ruled in favor of the assessee, allowing depreciation on the enhanced cost of assets acquired by the company, citing precedent and relevant provisions of the Income Tax Act. This decision ensured consistency in applying tax laws and principles. en-us Mon, 16 Mar 2020 00:00:00 +0530 Thu, 16 Apr 2020 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394582 The Appellate Tribunal ITAT Mumbai allowed the appeal filed by the assessee, overturning the disallowance of depreciation claimed and the treatment of Original Cost of Fixed Assets for depreciation calculation. The Tribunal ruled in favor of the assessee, allowing depreciation on the enhanced cost of assets acquired by the company, citing precedent and relevant provisions of the Income Tax Act. This decision ensured consistency in applying tax laws and principles. Case-Laws Income Tax Mon, 16 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394582