https://www.taxtmi.com/caselaws?id=407667 The tribunal upheld the disallowance of depreciation claims and the classification of interest income as "income from other sources." It concluded that the assessee had not commenced its business, and the fixed assets were not ready for use. Additionally, the assessee was neither the owner nor had leasehold rights over the assets, which were transferred to another entity. The appeals were dismissed accordingly. en-us Thu, 06 May 2021 00:00:00 +0530 Mon, 17 May 2021 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407667 The tribunal upheld the disallowance of depreciation claims and the classification of interest income as "income from other sources." It concluded that the assessee had not commenced its business, and the fixed assets were not ready for use. Additionally, the assessee was neither the owner nor had leasehold rights over the assets, which were transferred to another entity. The appeals were dismissed accordingly. Case-Laws Income Tax Thu, 06 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407667