https://www.taxtmi.com/caselaws?id=420295 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The accelerated depreciation rate of 60% on oil rigs was allowed, following precedent, and the capitalization of repair and maintenance charges was deemed unjustified as they were of a recurring nature. The order was pronounced on 08/03/2022. en-us Tue, 08 Mar 2022 00:00:00 +0530 Mon, 28 Mar 2022 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420295 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The accelerated depreciation rate of 60% on oil rigs was allowed, following precedent, and the capitalization of repair and maintenance charges was deemed unjustified as they were of a recurring nature. The order was pronounced on 08/03/2022. Case-Laws Income Tax Tue, 08 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420295