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Informative

Disallowance of Depreciation Due to Lack of Evidence for Machinery Installation: ITAT Restores AO’s Order

Update / Judgement Date

13 Feb 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxOther Legal Matters

The ITAT restored the AO's order disallowing depreciation due to a lack of evidence for machinery installation. This decision highlights the importance of maintaining proper records for capital expenditures. Businesses need to ensure they have adequate documentation to support their claims for depreciation.