https://www.taxtmi.com/caselaws?id=773681 The ITAT PUNE allowed depreciation on factory assets leased by an assessee cooperative society to another party. The cooperative society had leased its entire sugar factory due to financial crisis while treating lease income as business income. The tribunal found that depreciation was consistently allowed in previous assessment years (2016-17, 2017-18) under similar circumstances, and the Revenue had not appealed those orders. The ITAT held that the AO and CIT(A)/NFAC erred in disallowing depreciation when it was permitted in earlier years without justification for different treatment. The assessee's appeal was allowed. en-us Wed, 21 May 2025 00:00:00 +0530 Thu, 26 Jun 2025 08:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773681 The ITAT PUNE allowed depreciation on factory assets leased by an assessee cooperative society to another party. The cooperative society had leased its entire sugar factory due to financial crisis while treating lease income as business income. The tribunal found that depreciation was consistently allowed in previous assessment years (2016-17, 2017-18) under similar circumstances, and the Revenue had not appealed those orders. The ITAT held that the AO and CIT(A)/NFAC erred in disallowing depreciation when it was permitted in earlier years without justification for different treatment. The assessee's appeal was allowed. Case-Laws Income Tax Wed, 21 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773681