https://www.taxtmi.com/caselaws?id=306127 The High Court of Karnataka dismissed the appeal filed by the revenue/appellants, ruling in favor of the assessee. The court held that Section 115JB does not apply to banking companies and settled the issue of disallowance of depreciation on assets leased to others in favor of the assessee based on previous rulings. The matter concerning the treatment of investments shown as Stock in Trade was not pursued further as it was not pressed by the revenue during the proceedings. en-us Mon, 08 Nov 2021 00:00:00 +0530 Wed, 11 Jan 2023 20:37:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306127 The High Court of Karnataka dismissed the appeal filed by the revenue/appellants, ruling in favor of the assessee. The court held that Section 115JB does not apply to banking companies and settled the issue of disallowance of depreciation on assets leased to others in favor of the assessee based on previous rulings. The matter concerning the treatment of investments shown as Stock in Trade was not pursued further as it was not pressed by the revenue during the proceedings. Case-Laws Income Tax Mon, 08 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306127