https://www.taxtmi.com/caselaws?id=421898 The appeal was allowed in favor of the assessee regarding the disallowance of expenses on account of additional depreciation claimed on tools under the category of "fixed assets." The court determined that the tools were integral parts of the machinery essential for manufacturing products, thus qualifying for additional depreciation. The court also considered past practices where the revenue had allowed similar claims in subsequent years. As a result, the appellant's appeal was allowed, overturning the Commissioner's decision to disallow the additional depreciation claim. en-us Tue, 26 Apr 2022 00:00:00 +0530 Fri, 09 Sep 2022 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421898 The appeal was allowed in favor of the assessee regarding the disallowance of expenses on account of additional depreciation claimed on tools under the category of "fixed assets." The court determined that the tools were integral parts of the machinery essential for manufacturing products, thus qualifying for additional depreciation. The court also considered past practices where the revenue had allowed similar claims in subsequent years. As a result, the appellant's appeal was allowed, overturning the Commissioner's decision to disallow the additional depreciation claim. Case-Laws Income Tax Tue, 26 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421898