24 results for “depreciation”+ Section 36(1)(iii)clear
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In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed
Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad
iii) the six years previous to the relevant AY in which the search takes place. The AO has the power to assess and reassess the 'total income' of the aforementioned six years in separate assessment orders for each of the six years. In other words there will be only one assessment order in respect of each