'Business Profit' includes depreciation written back in context of section 32AB. However, the question of law left open by the Supreme Court - also some relevant discussion on binding nature of judgments or persuasive value.

'Business Profit' includes depreciation written back in context of section 32AB. However, the question of law left open by the Supreme Court - also some relevant discussion on binding nature of judgments or persuasive value. https://www.taxtmi.com/article/detailed?id=292 The treatment of depreciation written back in the profit and loss account affects the statutory computation of business profit unless a provision mandates neutralisation; a High Court held such write backs form part of business profit for the investment deposit related cap, and the Supreme Court dismissed the revenue appeal while leaving the question of law open, thereby enhancing the persuasive force of the High Court ruling and guiding tribunal deference to high court precedents. en-us Tue, 24 Feb 2009 00:00:00 +0530 Tue, 24 Feb 2009 08:27:20 +0530 TaxTMI RSS Generator 'Business Profit' includes depreciation written back in context of section 32AB. However, the question of law left open by the Supreme Court - also some relevant discussion on binding nature of judgments or persuasive value. https://www.taxtmi.com/article/detailed?id=292 The treatment of depreciation written back in the profit and loss account affects the statutory computation of business profit unless a provision mandates neutralisation; a High Court held such write backs form part of business profit for the investment deposit related cap, and the Supreme Court dismissed the revenue appeal while leaving the question of law open, thereby enhancing the persuasive force of the High Court ruling and guiding tribunal deference to high court precedents. Articles Income Tax Tue, 24 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=292