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2007 (5) TMI 287 - ITAT MADRAS-A
Extract:
.......ustained. Moreover, claiming depreciation under section 32(1) is not a valid recourse for such a case where the assets have gone out of possession of the assessee. Hence, we set aside the order of the learned Commissioner of Income-tax (Appeals) and decide the issue in favour of the revenue. 3.8 In the result, this appeal by the revenue is allowed.