https://www.taxtmi.com/caselaws?id=78952 The Court ruled in favor of the revenue, holding that if depreciation was already factored into the net profit rate calculation, it should not be separately deducted. The judgment emphasized that depreciation should be considered in the initial net profit rate determination. The Court differentiated the case from a previous judgment and concluded that the depreciation had been appropriately factored into the initial assessment based on the net profit rate. en-us Fri, 10 Sep 2010 00:00:00 +0530 Mon, 27 Dec 2010 22:24:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78952 The Court ruled in favor of the revenue, holding that if depreciation was already factored into the net profit rate calculation, it should not be separately deducted. The judgment emphasized that depreciation should be considered in the initial net profit rate determination. The Court differentiated the case from a previous judgment and concluded that the depreciation had been appropriately factored into the initial assessment based on the net profit rate. Case-Laws Income Tax Fri, 10 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78952