{"id":63666,"date":"2026-08-04T05:44:06","date_gmt":"2026-08-04T00:14:06","guid":{"rendered":"https:\/\/itatonline.org\/digest\/growmore-research-and-assets-management-ltd-v-dy-cit-2025-125-itr-44-mum-trib\/"},"modified":"2026-08-04T05:44:06","modified_gmt":"2026-08-04T00:14:06","slug":"growmore-research-and-assets-management-ltd-v-dy-cit-2025-125-itr-44-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/growmore-research-and-assets-management-ltd-v-dy-cit-2025-125-itr-44-mum-trib\/","title":{"rendered":"Growmore Research and Assets Management Ltd. v. Dy. CIT (2025) 125 ITR 44 (Mum.)(Trib.)"},"content":{"rendered":"<p>\u00a0<\/p>\n<p>The Assessing Officer disallowed depreciation on leased machinery on the ground that the lease transaction lacked commercial justification. The Tribunal held that once the purchase of the machinery and the corresponding lease income had been accepted, the Assessing Officer could not question the assessee&#8217;s business prudence or deny the statutory deduction under section 32 merely on suspicion. The depreciation was directed to be allowed. (AY. 1992-93).<\/p>\n","protected":false},"excerpt":{"rendered":"<p> S. 32 : Depreciation-Lease transaction-Commercial expediency cannot be questioned-Depreciation allowable.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-63666","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gyS","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=63666"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63666\/revisions"}],"predecessor-version":[{"id":63667,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63666\/revisions\/63667"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=63666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=63666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=63666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}