https://www.taxtmi.com/caselaws?id=2881 The court upheld the decision of the Appellate Tribunal, ruling in favor of the Revenue and against the Assessee. It held that depreciation must be deducted before computing deductions under Chapter VI-A of the Income Tax Act, aligning with the Division Bench judgment in Indian Rayon Corporation Ltd. v. CIT. This requirement aims to prevent assessees from obtaining double advantages by excluding depreciation. Consequently, the court affirmed that the Tribunal was correct in thrusting depreciation not claimed in the return of income and rejecting the claim of deduction under section 80IA. en-us Tue, 10 Oct 2006 00:00:00 +0530 Thu, 31 Jul 2008 08:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2881 The court upheld the decision of the Appellate Tribunal, ruling in favor of the Revenue and against the Assessee. It held that depreciation must be deducted before computing deductions under Chapter VI-A of the Income Tax Act, aligning with the Division Bench judgment in Indian Rayon Corporation Ltd. v. CIT. This requirement aims to prevent assessees from obtaining double advantages by excluding depreciation. Consequently, the court affirmed that the Tribunal was correct in thrusting depreciation not claimed in the return of income and rejecting the claim of deduction under section 80IA. Case-Laws Income Tax Tue, 10 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2881