https://www.taxtmi.com/caselaws?id=395175 The Tribunal dismissed the AO's appeal and allowed the assessee's cross objection in a case involving disallowance of depreciation claimed at a higher rate, disallowance under Section 14A read with Rule 8D, addition on account of balances in sundry creditors account, and confirmation of disallowance of leave encashment provision. The decision was based on ownership and usage of equipment, absence of exempt income, detailed explanations and evidence provided by the assessee, and legal precedents supporting the assessee's claims. en-us Fri, 06 Mar 2020 00:00:00 +0530 Sat, 09 May 2020 11:08:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395175 The Tribunal dismissed the AO's appeal and allowed the assessee's cross objection in a case involving disallowance of depreciation claimed at a higher rate, disallowance under Section 14A read with Rule 8D, addition on account of balances in sundry creditors account, and confirmation of disallowance of leave encashment provision. The decision was based on ownership and usage of equipment, absence of exempt income, detailed explanations and evidence provided by the assessee, and legal precedents supporting the assessee's claims. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395175