Held that depreciation on vehicles and wealth tax paid on said vehicles cannot be denied on the ground that the registration of the vehicle was in the name of directors. (AY. 2009-10)
DCIT v. Edelweiss Financial Advisors Ltd. (2021) 188 ITD 834 (Ahd.)(Trib.)
S. 32 : Depreciation-Vehicles-Registration was in the name of individual directors-Depreciation cannot be denied.