https://www.taxtmi.com/caselaws?id=30810 The court upheld the Tribunal's decisions on the depreciation allowance on tankers, treatment of bad debts, and accrual of interest income on advances. It emphasized that the circumstances justified the depreciation claim, confirmed the bad debts classification based on Income-tax Act provisions, and agreed that no real accrual of interest income occurred due to debts being written off. The appeal was dismissed, with the court affirming the rulings on all three issues, considering the specific facts and legal principles applied. en-us Mon, 02 Jul 2007 00:00:00 +0530 Thu, 25 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30810 The court upheld the Tribunal's decisions on the depreciation allowance on tankers, treatment of bad debts, and accrual of interest income on advances. It emphasized that the circumstances justified the depreciation claim, confirmed the bad debts classification based on Income-tax Act provisions, and agreed that no real accrual of interest income occurred due to debts being written off. The appeal was dismissed, with the court affirming the rulings on all three issues, considering the specific facts and legal principles applied. Case-Laws Income Tax Mon, 02 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30810