https://www.taxtmi.com/caselaws?id=59333 The appeal of the assessee was allowed in its entirety. The disallowance of depreciation claim of Rs. 60,68,690 was deleted as the assets were disclosed in the return and no new evidence was found during the search to justify the disallowance. The taxability of lease rental income of Rs. 19,07,000 was upheld following the Tribunal's decision on the depreciation claim. The levy of surcharge was deemed not applicable as it could not be applied retrospectively, resulting in the assessee's success on this issue as well. en-us Mon, 04 Jul 2005 00:00:00 +0530 Thu, 21 Jan 2016 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59333 The appeal of the assessee was allowed in its entirety. The disallowance of depreciation claim of Rs. 60,68,690 was deleted as the assets were disclosed in the return and no new evidence was found during the search to justify the disallowance. The taxability of lease rental income of Rs. 19,07,000 was upheld following the Tribunal's decision on the depreciation claim. The levy of surcharge was deemed not applicable as it could not be applied retrospectively, resulting in the assessee's success on this issue as well. Case-Laws Income Tax Mon, 04 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59333