https://www.taxtmi.com/caselaws?id=5174 The SC upheld the Tribunal and HC decision that balancing charges of Rs. 7,55,807 arising from sale of old machinery and buildings under section 41(2) must be included when computing the 8% deduction under section 80E(1) for electricity generation and distribution business income. The assessee's appeal was dismissed as the lower courts correctly determined that such balancing charges form part of the computation base for the statutory deduction. en-us Tue, 11 Apr 1978 00:00:00 +0530 Wed, 14 May 2025 12:58:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5174 The SC upheld the Tribunal and HC decision that balancing charges of Rs. 7,55,807 arising from sale of old machinery and buildings under section 41(2) must be included when computing the 8% deduction under section 80E(1) for electricity generation and distribution business income. The assessee's appeal was dismissed as the lower courts correctly determined that such balancing charges form part of the computation base for the statutory deduction. Case-Laws Income Tax Tue, 11 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5174