https://www.taxtmi.com/caselaws?id=395399 The ITAT overturned the disallowance of depreciation and expenses for a new car for AY 2014-15 and 2015-16, ruling in favor of the appellant. The ITAT considered past precedents and found that the appellant was entitled to depreciation on the vehicle used for business purposes. Both appeals filed by the appellant were allowed, following the decision of the coordinate bench of ITAT, leading to the reversal of the disallowance. The judgment was pronounced on 17th Jan 2020, favoring the appellant on the grounds related to the depreciation and expenses for the new car. en-us Fri, 17 Jan 2020 00:00:00 +0530 Wed, 20 May 2020 09:54:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395399 The ITAT overturned the disallowance of depreciation and expenses for a new car for AY 2014-15 and 2015-16, ruling in favor of the appellant. The ITAT considered past precedents and found that the appellant was entitled to depreciation on the vehicle used for business purposes. Both appeals filed by the appellant were allowed, following the decision of the coordinate bench of ITAT, leading to the reversal of the disallowance. The judgment was pronounced on 17th Jan 2020, favoring the appellant on the grounds related to the depreciation and expenses for the new car. Case-Laws Income Tax Fri, 17 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395399