https://www.taxtmi.com/caselaws?id=416483 The Tribunal ruled in favor of the assessee in an appeal regarding the disallowance of administrative expenses and depreciation on fixed assets. The Tribunal directed the AO to allow the administrative expenses totaling Rs. 48,48,892, emphasizing the intention of the assessee to resume business activities in the future. Additionally, the Tribunal allowed the depreciation on fixed assets amounting to Rs. 7,93,830, citing consistency with previous years' treatment despite the lack of business activities in the current year. Consequently, the appeal was allowed in favor of the assessee. en-us Thu, 23 Dec 2021 00:00:00 +0530 Thu, 30 Dec 2021 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416483 The Tribunal ruled in favor of the assessee in an appeal regarding the disallowance of administrative expenses and depreciation on fixed assets. The Tribunal directed the AO to allow the administrative expenses totaling Rs. 48,48,892, emphasizing the intention of the assessee to resume business activities in the future. Additionally, the Tribunal allowed the depreciation on fixed assets amounting to Rs. 7,93,830, citing consistency with previous years' treatment despite the lack of business activities in the current year. Consequently, the appeal was allowed in favor of the assessee. Case-Laws Income Tax Thu, 23 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416483