Tribunal held that depreciation on securities held as ‘Available for Sale’ which was computed and claimed consistently by assessee bank every year in its profit and loss account is held to be allowable .( AY.2010-11)
Malad Sahakari Bank Ltd. v. DCIT (2019) 176 ITD 438/ 182 DTR 350 (Mum.) (Trib.)
S. 32 : Depreciation-Co-operative bank-Securities held as ‘Available for sale’ which was computed and claimed consistently by assessee every year in its profit and loss account- Held to be allowable.