https://www.taxtmi.com/caselaws?id=767332 ITAT Ahmedabad held that interest on GST and GST late filing fees are compensatory, not penal, and thus allowable as deduction u/s 37, affirming CIT(A). It upheld assessee's claim of higher depreciation at 30% on dumpers and tippers used for transportation on hire, treating conditions for higher rate as satisfied and rejecting Revenue's restriction to 15%. It further sustained CIT(A)'s allowance of higher depreciation at 40% on specified motor vehicles in line with applicable notification and s.115BAA. On reassessment u/s 147, addition u/s 69C based solely on an unsigned third-party Excel sheet was deleted for lack of corroborative evidence. en-us Wed, 12 Mar 2025 00:00:00 +0530 Wed, 19 Nov 2025 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767332 ITAT Ahmedabad held that interest on GST and GST late filing fees are compensatory, not penal, and thus allowable as deduction u/s 37, affirming CIT(A). It upheld assessee's claim of higher depreciation at 30% on dumpers and tippers used for transportation on hire, treating conditions for higher rate as satisfied and rejecting Revenue's restriction to 15%. It further sustained CIT(A)'s allowance of higher depreciation at 40% on specified motor vehicles in line with applicable notification and s.115BAA. On reassessment u/s 147, addition u/s 69C based solely on an unsigned third-party Excel sheet was deleted for lack of corroborative evidence. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767332