https://www.taxtmi.com/caselaws?id=32482 The High Court upheld the Tribunal's decision to disallow the loss and deny depreciation claimed by the assessee, a shop owner dealing in brass and metal articles. The Court found no substantial question of law to interfere with the Tribunal's ruling, considering discrepancies revealed during a survey and the lack of proper documentation. The dismissal of the cross objection was affirmed, with no further evidence deemed necessary. Both the Income Tax Reference and Original Petition were disposed of in favor of the Department, denying relief to the assessee. en-us Tue, 10 Jun 2008 00:00:00 +0530 Fri, 16 Sep 2011 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32482 The High Court upheld the Tribunal's decision to disallow the loss and deny depreciation claimed by the assessee, a shop owner dealing in brass and metal articles. The Court found no substantial question of law to interfere with the Tribunal's ruling, considering discrepancies revealed during a survey and the lack of proper documentation. The dismissal of the cross objection was affirmed, with no further evidence deemed necessary. Both the Income Tax Reference and Original Petition were disposed of in favor of the Department, denying relief to the assessee. Case-Laws Income Tax Tue, 10 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32482