https://www.taxtmi.com/caselaws?id=57866 The Tribunal allowed the appeal, granting depreciation on gas cylinders used in the leasing business and directing the allowance of deduction under section 80M for dividend income. The assessee successfully argued that the gas cylinders were used in the leasing business, generating substantial rental income, and were not merely stock-in-trade as contended by the department. The Tribunal upheld the assessee's entitlement to depreciation on the gas cylinders and directed the allowance of the deduction under section 80M for dividend income. en-us Sun, 05 Mar 1995 00:00:00 +0530 Wed, 15 Dec 2010 10:47:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57866 The Tribunal allowed the appeal, granting depreciation on gas cylinders used in the leasing business and directing the allowance of deduction under section 80M for dividend income. The assessee successfully argued that the gas cylinders were used in the leasing business, generating substantial rental income, and were not merely stock-in-trade as contended by the department. The Tribunal upheld the assessee's entitlement to depreciation on the gas cylinders and directed the allowance of the deduction under section 80M for dividend income. Case-Laws Income Tax Sun, 05 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57866