https://www.taxtmi.com/caselaws?id=66101 The Tribunal dismissed the appeal, affirming that section 115J(2) protects the right to carry forward unabsorbed depreciation and losses from the impact of section 115J(1). It rejected the argument that taxing 30% of book profit and offsetting it against depreciation constitutes double taxation. The Tribunal clarified that the right to carry forward is determined before applying section 115J and found no merit in comparing section 80VVA to section 115J. The appeal was dismissed entirely. en-us Fri, 28 Jun 1996 00:00:00 +0530 Mon, 21 Feb 2011 15:07:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66101 The Tribunal dismissed the appeal, affirming that section 115J(2) protects the right to carry forward unabsorbed depreciation and losses from the impact of section 115J(1). It rejected the argument that taxing 30% of book profit and offsetting it against depreciation constitutes double taxation. The Tribunal clarified that the right to carry forward is determined before applying section 115J and found no merit in comparing section 80VVA to section 115J. The appeal was dismissed entirely. Case-Laws Income Tax Fri, 28 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66101