https://www.taxtmi.com/caselaws?id=785652 Dispute concerns multiple income-tax issues: AO disallowed depreciation for newly purchased fixed assets for lack of source explanation notwithstanding bank payments and audited books; tribunal found cost, ownership and use established and directed deletion of depreciation disallowance and restoration of WDV claim. Warranty provision deduction was understated by AO; tribunal directed AO to compute and allow the correct warranty provision deduction based on audited note and computation. Rental receipts from leasing trailers were held to be business income, not income from house property, and the related house-property additions were directed to be deleted. TDS shortfall and lower deduction certificates were remitted to AO for verification. Issue of share premium from a non-resident was held not taxable as excess consideration; AO ordered to delete the addition. Several adhoc disallowances on vehicle repairs and residual obligations were deleted and related matters remanded for verification of use and depreciation rates. en-us Tue, 16 Dec 2025 00:00:00 +0530 Tue, 27 Jan 2026 12:06:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785652 Dispute concerns multiple income-tax issues: AO disallowed depreciation for newly purchased fixed assets for lack of source explanation notwithstanding bank payments and audited books; tribunal found cost, ownership and use established and directed deletion of depreciation disallowance and restoration of WDV claim. Warranty provision deduction was understated by AO; tribunal directed AO to compute and allow the correct warranty provision deduction based on audited note and computation. Rental receipts from leasing trailers were held to be business income, not income from house property, and the related house-property additions were directed to be deleted. TDS shortfall and lower deduction certificates were remitted to AO for verification. Issue of share premium from a non-resident was held not taxable as excess consideration; AO ordered to delete the addition. Several adhoc disallowances on vehicle repairs and residual obligations were deleted and related matters remanded for verification of use and depreciation rates. Case-Laws Income Tax Tue, 16 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785652