https://www.taxtmi.com/caselaws?id=409279 The High Court upheld the ITAT's decision, ruling in favor of the assessee. The Court held that the assessment order was not erroneous or prejudicial to the revenue's interests. It was determined that the assessee was entitled to claim depreciation on leased assets under Section 32 of the Income Tax Act, 1961. The Court referenced relevant case law and circulars to support its decision, dismissing the revenue's appeal. en-us Fri, 18 Jun 2021 00:00:00 +0530 Fri, 22 Oct 2021 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409279 The High Court upheld the ITAT's decision, ruling in favor of the assessee. The Court held that the assessment order was not erroneous or prejudicial to the revenue's interests. It was determined that the assessee was entitled to claim depreciation on leased assets under Section 32 of the Income Tax Act, 1961. The Court referenced relevant case law and circulars to support its decision, dismissing the revenue's appeal. Case-Laws Income Tax Fri, 18 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409279