https://www.taxtmi.com/caselaws?id=77615 The High Court of Madras upheld the decision of the Income-tax Appellate Tribunal regarding the interpretation of section 34A of the Income-tax Act. The court ruled in favor of the assessee, confirming that the Tribunal correctly restricted the set off of unabsorbed depreciation in computing relief under section 80HHC. The Revenue's appeal was dismissed as the court found no compelling reasons or fresh evidence to overturn the Tribunal's decision. The court held that the Tribunal's order was in accordance with the law, resulting in a judgment against the Revenue and no costs imposed on the assessee. en-us Mon, 01 Mar 2010 00:00:00 +0530 Tue, 28 Sep 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77615 The High Court of Madras upheld the decision of the Income-tax Appellate Tribunal regarding the interpretation of section 34A of the Income-tax Act. The court ruled in favor of the assessee, confirming that the Tribunal correctly restricted the set off of unabsorbed depreciation in computing relief under section 80HHC. The Revenue's appeal was dismissed as the court found no compelling reasons or fresh evidence to overturn the Tribunal's decision. The court held that the Tribunal's order was in accordance with the law, resulting in a judgment against the Revenue and no costs imposed on the assessee. Case-Laws Income Tax Mon, 01 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77615