https://www.taxtmi.com/caselaws?id=300463 The Tribunal ruled in favor of the assessee, allowing the claims for depreciation and interest expenses. It emphasized that the crucial factor was the use of the assets for business purposes and the company's investment in those assets, rather than the registration details under the Motor Vehicles Act. The appeal of the assessee was allowed, setting aside the disallowances made by the AO and upheld by the CIT(A). en-us Tue, 31 Oct 2017 00:00:00 +0530 Fri, 04 Feb 2022 06:58:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300463 The Tribunal ruled in favor of the assessee, allowing the claims for depreciation and interest expenses. It emphasized that the crucial factor was the use of the assets for business purposes and the company's investment in those assets, rather than the registration details under the Motor Vehicles Act. The appeal of the assessee was allowed, setting aside the disallowances made by the AO and upheld by the CIT(A). Case-Laws Income Tax Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300463