sec. 41(1) No tax on depreciation claim if capital loan is waived off by lender

IN THE ITAT BANGALORE BENCH ‘B’ Akzo Nobel Coatings India (P.) Ltd. Versus Deputy Commissioner of Income-tax IT Appeal Nos. 751 to 755, 771 to 773, 1131 & 1164 (Bang.) of 2010 And 349 (Bang.) of 2011 [Assessment years 2001-02 to 2007-08] SEPTEMBER 14, 2012 ORDER Per Bench – These are seven appeals by the assessee and four appeals by the Revenue against different orders of the CIT(Appeals), LTU, Bangalore. 2. The issues raised by the assessee and revenue in different assessment years are stated in the chart given below:- Assessee’s Appeal No. &...