Loss of revenue due to incorrect allowance of depreciation : CBDT directs AOs to take immediate steps.

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..... CTION NO. 9/2007 Dated: September 11, 2007 I am directed to refer to the above subject. 2. Instances have come to the notice of the Board in which substantial loss of revenue has occurred .....

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..... lowance of claims of brought forward losses and depreciation. Remedial action for earlier years, wherever necessary, should also be initiated. 3. This should be brought to the notice of all concerne .....

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