https://www.taxtmi.com/caselaws?id=429556 The Tribunal allowed the assessee's appeals regarding the disallowance of depreciation claim on the withholding tax (TDS liability) borne by the assessee, which had been capitalized. The Tribunal held that the TDS liability should be considered part of the cost of the asset, rejecting the argument that it was not contractually required. It emphasized that once an asset enters the block of assets, depreciation on the written down value carried forward from earlier years cannot be disallowed. The Tribunal directed the Assessing Officer to allow the depreciation claimed by the assessee for all three years under consideration. en-us Fri, 28 Oct 2022 00:00:00 +0530 Thu, 30 Jul 2026 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429556 The Tribunal allowed the assessee's appeals regarding the disallowance of depreciation claim on the withholding tax (TDS liability) borne by the assessee, which had been capitalized. The Tribunal held that the TDS liability should be considered part of the cost of the asset, rejecting the argument that it was not contractually required. It emphasized that once an asset enters the block of assets, depreciation on the written down value carried forward from earlier years cannot be disallowed. The Tribunal directed the Assessing Officer to allow the depreciation claimed by the assessee for all three years under consideration. Case-Laws Income Tax Fri, 28 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429556