https://www.taxtmi.com/caselaws?id=38811 The court held that the assessee's claim for deduction of Rs. 52,591 was invalid as Rule 5(b) of the Income-tax Act did not apply to actual expenditures but only to provisions for anticipated depreciation or loss. The court also found that it could not consider new arguments not raised before the Tribunal, citing precedents. Therefore, the court ruled in favor of the Income-tax authorities, denying the deduction and imposing no costs on the assessee. en-us Wed, 06 Oct 1976 00:00:00 +0530 Fri, 09 Apr 2010 11:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38811 The court held that the assessee's claim for deduction of Rs. 52,591 was invalid as Rule 5(b) of the Income-tax Act did not apply to actual expenditures but only to provisions for anticipated depreciation or loss. The court also found that it could not consider new arguments not raised before the Tribunal, citing precedents. Therefore, the court ruled in favor of the Income-tax authorities, denying the deduction and imposing no costs on the assessee. Case-Laws Income Tax Wed, 06 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38811