https://www.taxtmi.com/caselaws?id=415256 The court allowed the depreciation claimed by the assessee on intangible assets during the suspension of hotel operations, overturning the CIT(A)'s decision. Regarding the disallowance of interest claim on debentures due to director's association, the court upheld the ITAT's decision to delete the disallowance, as the Assessing Officer failed to prove the excessive or unreasonable nature of the interest payment. The appeal was dismissed for lacking merit, emphasizing the necessity of proper legal analysis in addressing substantial legal questions. en-us Mon, 22 Nov 2021 00:00:00 +0530 Wed, 01 Dec 2021 08:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415256 The court allowed the depreciation claimed by the assessee on intangible assets during the suspension of hotel operations, overturning the CIT(A)'s decision. Regarding the disallowance of interest claim on debentures due to director's association, the court upheld the ITAT's decision to delete the disallowance, as the Assessing Officer failed to prove the excessive or unreasonable nature of the interest payment. The appeal was dismissed for lacking merit, emphasizing the necessity of proper legal analysis in addressing substantial legal questions. Case-Laws Income Tax Mon, 22 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415256