https://www.taxtmi.com/caselaws?id=403049 The Tribunal allowed 100% depreciation on the Bolero Van used for research and development, citing precedents and qualifying it under Section 35(1)(iv). The Tribunal directed the Assessing Officer to allow the claimed loss on silver futures, referencing relevant case law supporting such deductions. Regarding the disallowance under Section 14A read with Rule 8D, the Tribunal instructed verification of exempt income before making any disallowance. The appeal was partly allowed for statistical purposes, with decisions favoring the assessee on the depreciation and loss claims. en-us Fri, 04 Dec 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403049 The Tribunal allowed 100% depreciation on the Bolero Van used for research and development, citing precedents and qualifying it under Section 35(1)(iv). The Tribunal directed the Assessing Officer to allow the claimed loss on silver futures, referencing relevant case law supporting such deductions. Regarding the disallowance under Section 14A read with Rule 8D, the Tribunal instructed verification of exempt income before making any disallowance. The appeal was partly allowed for statistical purposes, with decisions favoring the assessee on the depreciation and loss claims. Case-Laws Income Tax Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403049