1988 (8) TMI 153 - AT - Income Tax

Summary

The appeal was filed against the order of CIT (A) regarding depreciation on tools and implements. CIT (A) directed ITO to verify the rate of depreciation. The issue of interest under s. 201(1A) was not pressed. CIT (A) disallowed weighted deduction on travelling expenses, but ITAT allowed it as the tour was for business purposes. The appeal was partly allowed.