https://www.taxtmi.com/highlights?id=71720 Addition u/s 69C - value of asset bought from the vendor who is alleged to be a suspicious dealer - disallowance of depreciation on the asset above - the AO cannot disallow the total value of the asset and also simultaneously disallow the depreciation claimed by the assessee. The disallowance can only be made to the extent of the benefit claimed by the assessee under the Act. - AT en-us Tue, 29 Aug 2023 08:37:45 +0530 Tue, 29 Aug 2023 08:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71720 Addition u/s 69C - value of asset bought from the vendor who is alleged to be a suspicious dealer - disallowance of depreciation on the asset above - the AO cannot disallow the total value of the asset and also simultaneously disallow the depreciation claimed by the assessee. The disallowance can only be made to the extent of the benefit claimed by the assessee under the Act. - AT Highlights Income Tax Tue, 29 Aug 2023 08:37:45 +0530 https://www.taxtmi.com/highlights?id=71720