https://www.taxtmi.com/caselaws?id=403193 Depreciation on rented assets was held admissible where the Revenue failed to show any material difference from earlier years, and the Tribunal applied the settled principle that depreciation is allowable when the asset is used for the purpose of the assessee's business. As the factual matrix was identical to prior years and no distinguishing feature was shown, the disallowance was deleted and the Revenue's challenge failed. en-us Tue, 19 Jan 2021 00:00:00 +0530 Thu, 21 Jan 2021 09:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403193 Depreciation on rented assets was held admissible where the Revenue failed to show any material difference from earlier years, and the Tribunal applied the settled principle that depreciation is allowable when the asset is used for the purpose of the assessee's business. As the factual matrix was identical to prior years and no distinguishing feature was shown, the disallowance was deleted and the Revenue's challenge failed. Case-Laws Income Tax Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403193