The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the depreciation, being a statutory allowance cannot be disallowed by invoking section 40(a)(ia) of the Income Tax Act. The assessee claimed depreciation which was disallowed by the Assessing Officer under section 40(a)(ia). However, the first appellate authority deleted the order by following the decision […]
The post Depreciation being Statutory Allowance can’t be disallowed by invoking S. 40(a)(ia): ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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