https://www.taxtmi.com/caselaws?id=410723 The Tribunal partially allowed the appeal by reducing the disallowance of depreciation on cars for personal use from 20% to 10%, along with a self-disallowed amount. It deleted the addition of construction cost difference between two projects and allowed the deduction claimed for loss due to embezzlement, emphasizing inclusion of any future recovery for taxation. The Tribunal's decision was based on thorough consideration of evidence and legal provisions, ensuring a fair outcome in the assessment of the disputed issues. en-us Fri, 06 Aug 2021 00:00:00 +0530 Sat, 07 Aug 2021 08:52:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410723 The Tribunal partially allowed the appeal by reducing the disallowance of depreciation on cars for personal use from 20% to 10%, along with a self-disallowed amount. It deleted the addition of construction cost difference between two projects and allowed the deduction claimed for loss due to embezzlement, emphasizing inclusion of any future recovery for taxation. The Tribunal's decision was based on thorough consideration of evidence and legal provisions, ensuring a fair outcome in the assessment of the disputed issues. Case-Laws Income Tax Fri, 06 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410723