Held that depreciation is allowable in respect of fall in value of securities held as stock in trade Followed Lakshmi Vilas Bank Ltd. v. CIT (2006) 284 ITR 93 (SC) (AY 2001-02, 2002-03).
CIT v. Lakshmi Vilas Bank Ltd. (2022) 287 Taxman 333/113 CCH 336 (Mad.)(HC)
S. 32 : Depreciation-Stock in trade-Fall in value of securities-Depreciation allowable.