2015 (12) TMI 1618

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.... This appeal by the assessee is preferred against the order of the Ld. CIT(A)-8, Mumbai dated 27.8.2013 pertaining to Assessment year 2010-11. 2. The sole grievance of the assessee relates to the disallowance of depreciation claimed on motor car on the alleged ground that vehicles were not registered in the name of the company. 3. While scrutinizing the return of income for the year under cons....

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....our with the AO who was of the firm belief that ownership is a must for the claim of depreciation and accordingly disallowed the depreciation on motor vehicle. 4. The assessee carried the matter before the Ld. CIT(A) but without any success. 5. Before us, the Ld. Counsel for the assessee stated that an identical issue was considered by the Tribunal in the case of M/s. Padmshree Weaving & Mfg. Mi....