M/S CANARA BANK BSCA SECTION vs. THE ASST COMMISSIONER OF INCOME TAX CIRCLE-11(2)

Bench: N.KUMAR,RATHNAKALA

disallowed the same. In appeal, an additional ground was urged. The assessee has claimed the benefit in one breath as depreciation on the basis of diminution of value of the asset, in another breath, the assessee is claiming the benefit as a loss incurred in the business and in another breath, the claim is on the basis of expenditure incurred