https://www.taxtmi.com/caselaws?id=14217 The High Court allowed the application under section 256(2) for reference of questions of law arising from the Tribunal's order in an income tax case regarding deductions for depreciation and interest on borrowed capital. The Court found that the Tribunal erred in not appreciating the scope of section 256, emphasizing that a question of law remains such even if the Tribunal believes it made the correct decision. The High Court directed the Tribunal to refer the question of law on whether the Tribunal was justified in allowing further deductions for depreciation and interest, especially in light of the Commissioner of Income-tax (Appeals) findings on the inclusion of these deductions in the reduced income assessment. en-us Wed, 14 Feb 2001 00:00:00 +0530 Tue, 14 Jul 2009 15:23:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14217 The High Court allowed the application under section 256(2) for reference of questions of law arising from the Tribunal's order in an income tax case regarding deductions for depreciation and interest on borrowed capital. The Court found that the Tribunal erred in not appreciating the scope of section 256, emphasizing that a question of law remains such even if the Tribunal believes it made the correct decision. The High Court directed the Tribunal to refer the question of law on whether the Tribunal was justified in allowing further deductions for depreciation and interest, especially in light of the Commissioner of Income-tax (Appeals) findings on the inclusion of these deductions in the reduced income assessment. Case-Laws Income Tax Wed, 14 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14217