Depreciation on Cars used for Business cannot be disallowed

M/s. Bhardwaj Construction Co. Vs ACIT (ITAT Delhi) As regards to Ground Nos. 11 and 12, relating to disallowance on account of depreciation claimed at Rs. 33,726/- on Cars, the Ld. AR submitted that this disallowance is without any basis. The Ld. AR further submitted that the vehicles have been used for business purposes and are business assets. There is no valid ground given for this disallowance. The Ld. DR relied upon the assessment order as well as the order of the CIT(A). We have heard both the sides and perused all the relevant material available on record. It is pertinent to note that ...