https://www.taxtmi.com/caselaws?id=401593 The Tribunal upheld the CIT (A)'s decisions, granting relief to the assessee on various grounds and dismissing the Revenue's appeals. Key points included allowing depreciation on the stock exchange membership card, recognizing beneficial ownership for vehicle expenses, and restricting disallowances under Sections 14A and 37. The Tribunal emphasized adherence to judicial precedents, such as the treatment of bad debts and the necessity of evidence for claims. Overall, the decisions favored the assessee, emphasizing principles of ownership and financial sufficiency while aligning with established legal principles. en-us Thu, 03 Dec 2020 00:00:00 +0530 Thu, 10 Dec 2020 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401593 The Tribunal upheld the CIT (A)'s decisions, granting relief to the assessee on various grounds and dismissing the Revenue's appeals. Key points included allowing depreciation on the stock exchange membership card, recognizing beneficial ownership for vehicle expenses, and restricting disallowances under Sections 14A and 37. The Tribunal emphasized adherence to judicial precedents, such as the treatment of bad debts and the necessity of evidence for claims. Overall, the decisions favored the assessee, emphasizing principles of ownership and financial sufficiency while aligning with established legal principles. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401593