https://www.taxtmi.com/caselaws?id=191266 The High Court of BOMBAY HIGH COURT returned the reference unanswered regarding the interpretation of Section 256(1) of the Income Tax Act, 1961 for the Assessment Year 1985-86 on additional depreciation and investment allowance for a jetty. The Court emphasized the minimal tax impact of the disallowed amounts and the importance of following CBDT instructions to reduce the burden on the department and judiciary. As the reference did not meet the criteria outlined in the Circular and lacked significant tax implications, the Court decided not to address the issue, aligning with previous judgments and administrative guidelines. en-us Fri, 24 Jul 2015 00:00:00 +0530 Tue, 28 Mar 2017 11:49:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191266 The High Court of BOMBAY HIGH COURT returned the reference unanswered regarding the interpretation of Section 256(1) of the Income Tax Act, 1961 for the Assessment Year 1985-86 on additional depreciation and investment allowance for a jetty. The Court emphasized the minimal tax impact of the disallowed amounts and the importance of following CBDT instructions to reduce the burden on the department and judiciary. As the reference did not meet the criteria outlined in the Circular and lacked significant tax implications, the Court decided not to address the issue, aligning with previous judgments and administrative guidelines. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191266