https://www.taxtmi.com/caselaws?id=416058 The High Court partially allowed the appeal, ruling against the revenue on the issue of additional depreciation under section 32(1)(iia) of the Income Tax Act. The Court upheld the Tribunal's decision granting relief to the assessee, finding no interference necessary. However, on the deletion of additions made under Section 14A for the assessment year 2010-11, the Court remanded the issue to the Assessing Officer for a fresh decision. The Court emphasized the need for a detailed examination of whether the investment was from own funds or borrowed funds, directing a reevaluation based on all relevant documents presented. en-us Tue, 14 Dec 2021 00:00:00 +0530 Sat, 18 Dec 2021 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416058 The High Court partially allowed the appeal, ruling against the revenue on the issue of additional depreciation under section 32(1)(iia) of the Income Tax Act. The Court upheld the Tribunal's decision granting relief to the assessee, finding no interference necessary. However, on the deletion of additions made under Section 14A for the assessment year 2010-11, the Court remanded the issue to the Assessing Officer for a fresh decision. The Court emphasized the need for a detailed examination of whether the investment was from own funds or borrowed funds, directing a reevaluation based on all relevant documents presented. Case-Laws Income Tax Tue, 14 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416058