In the result, appeal filed by the assessee is allowed
Bench: Shri George George K & Shri Laxmi Prasad Sahuassessment Year : 1996-97 M/S. Canara Bank, Vs. Dcit, Fm Wing, Head Office, 112, J C Road, Circle – 2(1)(1), Bengaluru – 560 002. Bengaluru. Pan : Aaajs 1557 Q Appellant Respondent Assessee By : Shri. S. Ananthan, Advocate Revenue By : Shri. Subramanian S, Addl. Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 07.03.2024 Date Of Pronouncement : 08.03.2024
purchase of the leased assets and the existence of the same. Therefore, CIT(A) directed the AO to grant the depreciation on the leased assets. On further appeal by the Revenue, the Tribunal restored the matter to the AO. The relevant finding of the Tribunal reads as follows: “15. The difference between this case and those dealt in paras