https://www.taxtmi.com/caselaws?id=439249 The HC upheld the ITAT's decision, affirming the appellant's right to claim depreciation on revalued assets. The Court determined that the depreciation should be based on the actual cost of the assets, even if paid through share issuance. No substantial question of law was identified, resulting in the dismissal of the appeal. en-us Wed, 14 Jun 2023 00:00:00 +0530 Wed, 23 Oct 2024 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439249 The HC upheld the ITAT's decision, affirming the appellant's right to claim depreciation on revalued assets. The Court determined that the depreciation should be based on the actual cost of the assets, even if paid through share issuance. No substantial question of law was identified, resulting in the dismissal of the appeal. Case-Laws Income Tax Wed, 14 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439249