https://www.taxtmi.com/caselaws?id=1918 The court clarified the interpretation of section 115J regarding the computation of book profit and the treatment of unabsorbed depreciation for carry forward. The decision favored the Revenue, aligning with the apex court's ruling in Karnataka Small Scale Industries Development Corporation Ltd. v. CIT [2002] 258 ITR 770, overruling conflicting judgments and emphasizing strict construction of section 115J as a deeming provision. The judgment settled the dispute by upholding the Revenue's interpretation and rejecting the approach taken by the Gauhati High Court, ultimately ruling in favor of the Revenue. en-us Tue, 06 Feb 2007 00:00:00 +0530 Sat, 02 Aug 2008 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1918 The court clarified the interpretation of section 115J regarding the computation of book profit and the treatment of unabsorbed depreciation for carry forward. The decision favored the Revenue, aligning with the apex court's ruling in Karnataka Small Scale Industries Development Corporation Ltd. v. CIT [2002] 258 ITR 770, overruling conflicting judgments and emphasizing strict construction of section 115J as a deeming provision. The judgment settled the dispute by upholding the Revenue's interpretation and rejecting the approach taken by the Gauhati High Court, ultimately ruling in favor of the Revenue. Case-Laws Income Tax Tue, 06 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1918