ASSISTANT COMMISSIONER OF INCOME TAX, CHHINDWARA vs. M/S. CENTRAL MADHYA PRADESH GRAMIN BANK, CHHINDWARA
In the result, the Revenue’s appeal is dismissed
ITA 135/JAB/2018[2012-13]Status: DisposedITAT Jabalpur10 Dec 2020AY 2012-13
Section 147Section 43Section 43(1)
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Asst. CIT v. Central Madhya Pradesh Gramin Bank financing the asset purchase indirectly, the reduction in the cost can only be on a proportionate basis.
5. We have heard the parties and perused the material on record.
The law
5.1
Section 43(1) provides for, in reckoning ‘actual cost’, a reduction in the cost
