https://www.taxtmi.com/caselaws?id=186203 Depreciation was held to be mandatory in computing business income even if the assessee did not claim it, because after the omission of section 34 from 1-4-1988 there was no statutory basis to treat depreciation as an optional allowance. The Tribunal also held that depreciation had to be taken into account while computing business profits for deductions under sections 80HHC and 80-I, and earlier authorities based on the pre-amendment position were inapplicable. en-us Sun, 04 Mar 2001 00:00:00 +0530 Fri, 09 Sep 2016 17:14:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186203 Depreciation was held to be mandatory in computing business income even if the assessee did not claim it, because after the omission of section 34 from 1-4-1988 there was no statutory basis to treat depreciation as an optional allowance. The Tribunal also held that depreciation had to be taken into account while computing business profits for deductions under sections 80HHC and 80-I, and earlier authorities based on the pre-amendment position were inapplicable. Case-Laws Income Tax Sun, 04 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186203