ITAT Directs readjudication of disallowance of Depreciation claimed on Acquisition of Asset [Read Order]

ITAT directed readjudication of disallowance of depreciation claimed on acquisition of the assets.
By Aparna. M - On May 19, 2024 1:01 pm - 2 mins read
Income Tax Appellate Tribunal - ITAT bangalore - Assessing Officer - income tax updates - taxscan

The Two member bench of Bangalore  Income Tax Appellate Tribunal ( ITAT ) directed readjudication of disallowance of depreciation claimed on acquisition of the assets. The appeal was filed by the revenue by deleting the disallowance of depreciation claimed on acquisition of the assets. It was observed that during the assessment proceedings of Assessee Raghavendra…

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