https://www.taxtmi.com/caselaws?id=201803 The court clarified the interpretation of the third proviso to section 32(1) regarding depreciation restriction for companies for the assessment year 1991-92. It emphasized that the restriction to 75% applied specifically to companies and was valid even if assets were used for business purposes. The court upheld the additional tax levied due to the depreciation restriction, ruling in favor of the Revenue and emphasizing the specific application of the restriction for the said assessment year. en-us Mon, 20 Oct 2008 00:00:00 +0530 Sat, 29 Dec 2012 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201803 The court clarified the interpretation of the third proviso to section 32(1) regarding depreciation restriction for companies for the assessment year 1991-92. It emphasized that the restriction to 75% applied specifically to companies and was valid even if assets were used for business purposes. The court upheld the additional tax levied due to the depreciation restriction, ruling in favor of the Revenue and emphasizing the specific application of the restriction for the said assessment year. Case-Laws Income Tax Mon, 20 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201803