https://www.taxtmi.com/caselaws?id=64476 The Tribunal allowed the assessee's claim for set off of unabsorbed depreciation against income taxable under section 41(2) and treated customs duty payable as expenditure in computing profits. Additionally, the Tribunal permitted the set off of business loss against profit taxable under section 41(2), following the interpretation favored by multiple High Courts. The Tribunal's decisions aligned with the CIT(A)'s rulings, emphasizing the application of legal principles to support the assessee's positions in each issue presented. en-us Fri, 19 Jul 1991 00:00:00 +0530 Tue, 08 Feb 2011 11:06:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64476 The Tribunal allowed the assessee's claim for set off of unabsorbed depreciation against income taxable under section 41(2) and treated customs duty payable as expenditure in computing profits. Additionally, the Tribunal permitted the set off of business loss against profit taxable under section 41(2), following the interpretation favored by multiple High Courts. The Tribunal's decisions aligned with the CIT(A)'s rulings, emphasizing the application of legal principles to support the assessee's positions in each issue presented. Case-Laws Income Tax Fri, 19 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64476