https://www.taxtmi.com/caselaws?id=245572 Reassessment initiated after four years was treated as requiring proper adjudication of the assessee's jurisdictional objection, and the matter was restored because the first appellate authority had not decided that challenge. Bank securities consistently valued at cost or market value, whichever is lower, were held eligible for that method regardless of whether they were classified as permanent or current, so depreciation was allowed. On the same valuation principle, appreciation on revaluation was brought to tax, while a bad debt claim was allowed where there was an actual write-off in substance and the technical objection failed. Grounds lacking Committee on Disputes clearance were excluded from appeal. en-us Thu, 30 Jun 2011 00:00:00 +0530 Wed, 02 Apr 2014 16:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245572 Reassessment initiated after four years was treated as requiring proper adjudication of the assessee's jurisdictional objection, and the matter was restored because the first appellate authority had not decided that challenge. Bank securities consistently valued at cost or market value, whichever is lower, were held eligible for that method regardless of whether they were classified as permanent or current, so depreciation was allowed. On the same valuation principle, appreciation on revaluation was brought to tax, while a bad debt claim was allowed where there was an actual write-off in substance and the technical objection failed. Grounds lacking Committee on Disputes clearance were excluded from appeal. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245572