https://www.taxtmi.com/caselaws?id=780863 ITAT-Ahd upheld the Assessing Officer's disallowance of impairment losses and abnormal loss on spares, holding such amounts relate to fixed assets and cannot be claimed as revenue expenditure; the assessee must adjust these amounts in the block of assets and be allowed depreciation thereafter. The tribunal canceled the penalty under section 270A for misreporting, finding no misrepresentation, suppression, false entry or unsupported claim in the facts of the case. en-us Thu, 16 Oct 2025 00:00:00 +0530 Fri, 07 Nov 2025 08:37:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780863 ITAT-Ahd upheld the Assessing Officer's disallowance of impairment losses and abnormal loss on spares, holding such amounts relate to fixed assets and cannot be claimed as revenue expenditure; the assessee must adjust these amounts in the block of assets and be allowed depreciation thereafter. The tribunal canceled the penalty under section 270A for misreporting, finding no misrepresentation, suppression, false entry or unsupported claim in the facts of the case. Case-Laws Income Tax Thu, 16 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780863