https://www.taxtmi.com/caselaws?id=419491 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to allow depreciation, interest expenses, and administrative expenses for Building Block C. The Tribunal emphasized the principle of consistency, stating that once an asset is deemed ready to use and expenses are allowed in a previous assessment year, the Assessing Officer cannot disallow them in subsequent years without valid reasons or changes in circumstances. The Tribunal found no merit in the Revenue's arguments and upheld the previous decisions regarding the disallowance of depreciation and expenses for Building Block C. en-us Thu, 10 Mar 2022 00:00:00 +0530 Sat, 12 Mar 2022 08:06:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419491 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to allow depreciation, interest expenses, and administrative expenses for Building Block C. The Tribunal emphasized the principle of consistency, stating that once an asset is deemed ready to use and expenses are allowed in a previous assessment year, the Assessing Officer cannot disallow them in subsequent years without valid reasons or changes in circumstances. The Tribunal found no merit in the Revenue's arguments and upheld the previous decisions regarding the disallowance of depreciation and expenses for Building Block C. Case-Laws Income Tax Thu, 10 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419491