Adjustment of taxable income: investment-linked deduction added back net of depreciation, altering the adjusted total income computation. The amendment requires that adjusted total income be computed by increasing total income by investment-linked deductions claimed under the capital investment deduction regime, but reduced by the amount of depreciation that would be allowable as if those deductions had not been claimed, thereby altering the tax base for affected taxpayers for the specified assessment year and thereafter.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Adjustment of taxable income: investment-linked deduction added back net of depreciation, altering the adjusted total income computation.
The amendment requires that adjusted total income be computed by increasing total income by investment-linked deductions claimed under the capital investment deduction regime, but reduced by the amount of depreciation that would be allowable as if those deductions had not been claimed, thereby altering the tax base for affected taxpayers for the specified assessment year and thereafter.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
