https://www.taxtmi.com/caselaws?id=204586 The High Court dismissed the tax appeal, affirming the Tribunal's decision to delete the excess depreciation claimed from book profits under section 115JB. The court upheld the Tribunal's ruling based on the authenticity of the company's audited accounts and compliance with statutory requirements. Additionally, the court held that the amended provision in Explanation (iia) to section 115JB, introduced in 2006, did not have retrospective effect for the assessment year 2002-03, leading to the rejection of the Revenue's appeal. en-us Mon, 13 Jul 2009 00:00:00 +0530 Thu, 20 Dec 2012 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204586 The High Court dismissed the tax appeal, affirming the Tribunal's decision to delete the excess depreciation claimed from book profits under section 115JB. The court upheld the Tribunal's ruling based on the authenticity of the company's audited accounts and compliance with statutory requirements. Additionally, the court held that the amended provision in Explanation (iia) to section 115JB, introduced in 2006, did not have retrospective effect for the assessment year 2002-03, leading to the rejection of the Revenue's appeal. Case-Laws Income Tax Mon, 13 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204586