https://www.taxtmi.com/caselaws?id=429036 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the claimed expenditure in full related to car lease expenses, including depreciation, interest, repairs, and maintenance expenses. The Tribunal rejected the Ld. CIT(A)'s decision to restrict the disallowance to the lease rental earned, emphasizing the deductibility of expenses incurred in earning income from other sources. The judgment underscored the importance of considering all relevant evidence and legal provisions in determining allowable deductions under the Income Tax Act. en-us Wed, 28 Sep 2022 00:00:00 +0530 Sat, 15 Oct 2022 21:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429036 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the claimed expenditure in full related to car lease expenses, including depreciation, interest, repairs, and maintenance expenses. The Tribunal rejected the Ld. CIT(A)'s decision to restrict the disallowance to the lease rental earned, emphasizing the deductibility of expenses incurred in earning income from other sources. The judgment underscored the importance of considering all relevant evidence and legal provisions in determining allowable deductions under the Income Tax Act. Case-Laws Income Tax Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429036