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I.T.A. NO. 233/ KB OF 1985-86, DECIDED ON 9TH APRIL, 1988. versus I.T.A. NO. 233/ KB OF 1985-86, DECIDED ON 9TH APRIL, 1988.


Section 23 (1) (v) and Third Schedule, R1 (1) of the Central Board of Revenue Circular No. 9 of 1943, dated 23 3 1943 An extortion claim about a car allegedly rented by Assisi. What was acquired under the contract does not the buyer. Become the owner of the goods in his purchase agreement and thus cannot claim depreciation on the property purchased for rent. [[1979) 39 Tax 47 (TRIB) Disclaimer

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