https://www.taxtmi.com/caselaws?id=215277 The Tax Case Appeal was partly allowed, with the Court ruling that the deduction under Section 32AB should not be factored into the computation of profits and gains of the industrial undertaking for determining relief under Sections 80HH and 80I. The Court emphasized that the relief under Section 32AB should not impact the profits and gains derived from the new industrial undertaking. The issue of disallowance of depreciation on the guest house building was decided against the assessee based on the precedent established by the Supreme Court. The matter was remitted to the Assessing Officer for further assessment in accordance with the Court's instructions. en-us Mon, 04 Jun 2012 00:00:00 +0530 Wed, 25 Jul 2012 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215277 The Tax Case Appeal was partly allowed, with the Court ruling that the deduction under Section 32AB should not be factored into the computation of profits and gains of the industrial undertaking for determining relief under Sections 80HH and 80I. The Court emphasized that the relief under Section 32AB should not impact the profits and gains derived from the new industrial undertaking. The issue of disallowance of depreciation on the guest house building was decided against the assessee based on the precedent established by the Supreme Court. The matter was remitted to the Assessing Officer for further assessment in accordance with the Court's instructions. Case-Laws Income Tax Mon, 04 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215277