https://www.taxtmi.com/circulars?id=4779 Calculation of the capital employed for the income-tax deduction requires aggregating the value of assets of each undertaking and deducting only the liabilities attributable to that same undertaking; the Board accepts the Bombay High Court's interpretation that liabilities must be matched and deducted on an undertaking-by-undertaking basis. en-us Tue, 10 Apr 1984 00:00:00 +0530 Sat, 02 Aug 2008 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4779 Calculation of the capital employed for the income-tax deduction requires aggregating the value of assets of each undertaking and deducting only the liabilities attributable to that same undertaking; the Board accepts the Bombay High Court's interpretation that liabilities must be matched and deducted on an undertaking-by-undertaking basis. Circulars Income Tax Tue, 10 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4779