https://www.taxtmi.com/caselaws?id=60725 The ITAT partially allowed the appeals by the assessee, restricting the disallowance of petrol expenses for personal use of vehicles by partners to 1/5th and depreciation at 20% for each year. The disallowance of expenditure on providing refreshments to customers and staff was overturned, with the ITAT deleting the disallowances for both years, considering the nature of the expenses and legal precedents. The judgment reflects a balanced approach, considering the business context and legal interpretations in determining allowable deductions and depreciation for the assessed years. en-us Fri, 27 Feb 1981 00:00:00 +0530 Fri, 07 Jan 2011 18:03:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60725 The ITAT partially allowed the appeals by the assessee, restricting the disallowance of petrol expenses for personal use of vehicles by partners to 1/5th and depreciation at 20% for each year. The disallowance of expenditure on providing refreshments to customers and staff was overturned, with the ITAT deleting the disallowances for both years, considering the nature of the expenses and legal precedents. The judgment reflects a balanced approach, considering the business context and legal interpretations in determining allowable deductions and depreciation for the assessed years. Case-Laws Income Tax Fri, 27 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60725