DEDUCTIBILITY OF DEPRECIATION FOR DETERMINING ELIGIBLE PROFI


Last updated: 24 September 2008

Court :
IN THE HIGH COURT OF DELHI

Brief :
DEDUCTIBILITY OF DEPRECIATION FOR DETERMINING ELIGIBLE PROFITS UNDER SECTIONS 80-IB AND 80HHC OF IT ACT, 1961 RATIO DECIDENDI Depreciation allowance under section 32 will have to be deducted in arriving at the “profits and gains” of business derived by an assessee, from an industrial undertaking specified under section 80-1B or export business under section 80HHC.

Citation :
Dabur India Ltd. v CIT ITA No. 579/2007 September 1, 2008

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CHEZHIYAN
Published in Income Tax
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