https://www.taxtmi.com/caselaws?id=126727 The High Court of Gujarat upheld the Tribunal's decisions on both issues. Regarding the taxing of interest income based on a change in accounting system, the Court agreed with the Tribunal that the change was bona fide and not aimed at tax evasion, thus ruling the interest income as not taxable for the year in question. Concerning the disallowance of depreciation claimed, the Court supported the Tribunal's view that notional depreciation cannot be deducted unless specifically provided for in the law, dismissing the appeal due to the absence of any substantial question of law. en-us Mon, 22 Dec 2008 00:00:00 +0530 Fri, 07 Dec 2012 10:55:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126727 The High Court of Gujarat upheld the Tribunal's decisions on both issues. Regarding the taxing of interest income based on a change in accounting system, the Court agreed with the Tribunal that the change was bona fide and not aimed at tax evasion, thus ruling the interest income as not taxable for the year in question. Concerning the disallowance of depreciation claimed, the Court supported the Tribunal's view that notional depreciation cannot be deducted unless specifically provided for in the law, dismissing the appeal due to the absence of any substantial question of law. Case-Laws Income Tax Mon, 22 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126727