https://www.taxtmi.com/caselaws?id=173322 The High Court found that the Tribunal erred in applying Section 8(3) of the Excess Profits Tax Act, directing a re-evaluation of the case to determine the nature and continuity of the business. The issue of depreciation was deferred pending clarification on whether there was a succession to the business or if it was a new business. The High Court stressed the importance of the Tribunal considering all relevant evidence in its re-assessment. en-us Tue, 05 Feb 1957 00:00:00 +0530 Sat, 12 Sep 2015 12:02:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173322 The High Court found that the Tribunal erred in applying Section 8(3) of the Excess Profits Tax Act, directing a re-evaluation of the case to determine the nature and continuity of the business. The issue of depreciation was deferred pending clarification on whether there was a succession to the business or if it was a new business. The High Court stressed the importance of the Tribunal considering all relevant evidence in its re-assessment. Case-Laws Income Tax Tue, 05 Feb 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173322