https://www.taxtmi.com/caselaws?id=3018 The High Court ruled in favor of the assessee, holding that brought forward unabsorbed depreciation should not be considered in calculating book profits under Section 115-J of the Income-tax Act. The Court emphasized the importance of analyzing relevant legal provisions and precedents in determining the correctness of the Commissioner of Income Tax's order and the Tribunal's decision. The judgment clarified the interpretation of the Income Tax Act in this regard, highlighting the significance of consistent application of the law in similar cases. en-us Tue, 15 Jan 2008 00:00:00 +0530 Wed, 30 Jul 2008 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3018 The High Court ruled in favor of the assessee, holding that brought forward unabsorbed depreciation should not be considered in calculating book profits under Section 115-J of the Income-tax Act. The Court emphasized the importance of analyzing relevant legal provisions and precedents in determining the correctness of the Commissioner of Income Tax's order and the Tribunal's decision. The judgment clarified the interpretation of the Income Tax Act in this regard, highlighting the significance of consistent application of the law in similar cases. Case-Laws Income Tax Tue, 15 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3018