https://www.taxtmi.com/caselaws?id=295921 The Tribunal dismissed the revenue's appeal for the assessment year 2012-13, upholding the decisions of the Ld. CIT (A) on both issues. The disallowance under section 14A read with Rule 8D was not applicable as the assessee had sufficient own and interest-free funds. Additionally, the deletion of additional depreciation claimed under section 32(1)(iia) was upheld, citing precedents allowing 50% depreciation in the subsequent year for assets put to use for less than 180 days. en-us Thu, 31 Jan 2019 00:00:00 +0530 Fri, 25 Jun 2021 07:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295921 The Tribunal dismissed the revenue's appeal for the assessment year 2012-13, upholding the decisions of the Ld. CIT (A) on both issues. The disallowance under section 14A read with Rule 8D was not applicable as the assessee had sufficient own and interest-free funds. Additionally, the deletion of additional depreciation claimed under section 32(1)(iia) was upheld, citing precedents allowing 50% depreciation in the subsequent year for assets put to use for less than 180 days. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295921