https://www.taxtmi.com/caselaws?id=189189 Where income is assessed on an estimated net profit basis after invoking section 145, depreciation is allowable separately and not absorbed in the estimate. The proposed reference under section 256(2) raised no referable question of law because the issue was already covered by the binding view on separate allowance of depreciation in estimated-income cases. The reference application was therefore rejected, and the Tribunal's view was left undisturbed. en-us Fri, 25 Jan 2002 00:00:00 +0530 Sat, 31 Dec 2016 11:25:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189189 Where income is assessed on an estimated net profit basis after invoking section 145, depreciation is allowable separately and not absorbed in the estimate. The proposed reference under section 256(2) raised no referable question of law because the issue was already covered by the binding view on separate allowance of depreciation in estimated-income cases. The reference application was therefore rejected, and the Tribunal's view was left undisturbed. Case-Laws Income Tax Fri, 25 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189189