Gujarat HC allows deductions for obsolescence charges, depreciation, and investment allowance under Income Tax Act

The Gujarat HC allowed the appeal, holding that obsolescence charges on spare parts, depreciation for a guest house, and investment allowance on telephone and mobile equipment were deductible under relevant sections of the Income Tax Act.

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The Gujarat High Court admitted an appeal based on substantial questions of law regarding deductions for obsolescence charges on spare parts, depreciation for a guest house, and eligibility for investment allowance on telephone and mobile equipment under specific sections of the Income Tax Act.

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