https://www.taxtmi.com/caselaws?id=57155 The Appellate Tribunal held that the revenue was estopped from challenging the section 154 order passed by the CIT after an appeal against the substantive order. The Tribunal directed the ITO to allow depreciation on a building disallowed by the ITO but allowed by the CIT for the assessment year 1977-78. The judgment also discussed the interpretation of the term 'owned by the assessee' for claiming depreciation and ruled in favor of the assessee regarding the tax treatment of an annuity policy amount as constructive receipt. The Tribunal's decision was based on a CBDT circular and previous tribunal rulings, dismissing the Revenue's reference application. en-us Tue, 12 May 1981 00:00:00 +0530 Wed, 08 Dec 2010 16:27:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57155 The Appellate Tribunal held that the revenue was estopped from challenging the section 154 order passed by the CIT after an appeal against the substantive order. The Tribunal directed the ITO to allow depreciation on a building disallowed by the ITO but allowed by the CIT for the assessment year 1977-78. The judgment also discussed the interpretation of the term 'owned by the assessee' for claiming depreciation and ruled in favor of the assessee regarding the tax treatment of an annuity policy amount as constructive receipt. The Tribunal's decision was based on a CBDT circular and previous tribunal rulings, dismissing the Revenue's reference application. Case-Laws Income Tax Tue, 12 May 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57155