Depreciation being a statutory allowance and hence cannot be restricted on the basis of personal use

I.T.O. Vs Bhagchand Jain (ITAT Jaipur) Disallowance of depreciation on vehicles is also not warranted with the facts and merits of the case as depreciation being a statutory allowance and hence cannot be restricted on the basis of personal use as has been held by Coordinate Bench of this Tribunal in ITA no. 373/JP/2002 in case of Triveni Pharma (2006) 35 T.W. 64 (Jp) and also in Kailash Chand Gupta v/s DCIT 35 Tax World 36 (Jp). Considering the totality of the facts and circumstances as well as case laws relied upon by the ld. AR, we found merit in the contentions raised by the assessee, there...