https://www.taxtmi.com/caselaws?id=298278 The Tribunal decided in favor of the assessee, deleting the disputed addition in the calculation of assessed income by applying a Supreme Court decision in favor of the assessee. The disallowance of depreciation was also ruled in favor of the assessee, following the principle favoring the assessee in ambiguous taxing provisions. The issue of exemption under section 10(23C)(iiiae) was remitted back to the AO for fresh consideration, with the appeal allowed for statistical purposes. The credit of prepaid taxes issue was not explicitly resolved in the judgment. en-us Tue, 17 Nov 2015 00:00:00 +0530 Mon, 25 Oct 2021 09:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298278 The Tribunal decided in favor of the assessee, deleting the disputed addition in the calculation of assessed income by applying a Supreme Court decision in favor of the assessee. The disallowance of depreciation was also ruled in favor of the assessee, following the principle favoring the assessee in ambiguous taxing provisions. The issue of exemption under section 10(23C)(iiiae) was remitted back to the AO for fresh consideration, with the appeal allowed for statistical purposes. The credit of prepaid taxes issue was not explicitly resolved in the judgment. Case-Laws Income Tax Tue, 17 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298278