SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE ACIT(OSD) CIRCLE-8, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

depreciation had been allowed and, subsequently, such plant and machinery was sold, discarded or destroyed, the assessee might have got some value either as a result of sale or insurance or from salvage or compensation thereabout. The necessity to keep section 41(2) as a provision in addition to section 41(1