Depreciation and Expenses for Company-Owned Vehicle Deemed Legitimate; Personal Expense Allegations Unfounded by Assessing Officer.

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....Addition on account of depreciation, interest and running expenses for the vehicle registered in the name of the director - Dominion ownership of the car rest with the company. The company being a body corporate is different from the individuals. In other words in a body corporate there cannot be any element of personal expenses as alleged by the AO. - AT....