THE STATE BANK OF HYD. vs. THE JT.COMMI.SPL.RANGE IV HYD.

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

251(2 oi the Act. 8. Bl the rrder dated 23.O2.2OO1, Tribunal helrl that clecisior-r rcnr ered by the Supreme Court in tfCO Bank (supra) rvas s -rbsequent to the order of the Tribunal dat,:d 22.)0.1997. l'he said decision was not avail;rble at the time of decisi rn rendered by the Tribunal. Therefore

Commissioner of Income tax vs. Sri. B. Ramesh,

depreciation debited to profit and loss account by the assessee, which is impermissible by them in terms of the statute and also in the light of the judgment of the Supreme Court in Apollo Tyres case (1st supra). The fairness on the part of the learned Senior Counsel for the Revenue is highly appreciable. 9) Therefore, in the light