https://www.taxtmi.com/caselaws?id=410791 The Tribunal ruled in favor of the assessee in both issues. Regarding the depreciation claim on assets, the Tribunal held that the Assessing Officer's conclusions lacked concrete evidence and technical expertise, allowing the depreciation claim. Concerning the technology recharge cost, the Tribunal agreed with the assessee that the expenses were revenue expenditures necessary for business operations, not capital expenditures. The judgments emphasized the importance of understanding business operations and technological requirements in determining business commencement and expenditure classification. en-us Mon, 02 Aug 2021 00:00:00 +0530 Tue, 10 Aug 2021 08:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410791 The Tribunal ruled in favor of the assessee in both issues. Regarding the depreciation claim on assets, the Tribunal held that the Assessing Officer's conclusions lacked concrete evidence and technical expertise, allowing the depreciation claim. Concerning the technology recharge cost, the Tribunal agreed with the assessee that the expenses were revenue expenditures necessary for business operations, not capital expenditures. The judgments emphasized the importance of understanding business operations and technological requirements in determining business commencement and expenditure classification. Case-Laws Income Tax Mon, 02 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410791