https://www.taxtmi.com/caselaws?id=16843 The High Court of Madhya Pradesh ruled in favor of the assessee in a case involving the computation of book profits under section 115J of the Income-tax Act, 1961. The court upheld the Tribunal's decision to include unabsorbed depreciation of earlier years in the calculation of book profits, following a Special Bench decision in a similar case. Emphasizing legal precedents and the interpretation of relevant provisions, the court concluded that the Tribunal's decision was legally correct. Consequently, the High Court answered the question in favor of the assessee and against the Department, disposing of the reference without costs. en-us Fri, 26 Jul 1996 00:00:00 +0530 Sat, 12 Sep 2009 15:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16843 The High Court of Madhya Pradesh ruled in favor of the assessee in a case involving the computation of book profits under section 115J of the Income-tax Act, 1961. The court upheld the Tribunal's decision to include unabsorbed depreciation of earlier years in the calculation of book profits, following a Special Bench decision in a similar case. Emphasizing legal precedents and the interpretation of relevant provisions, the court concluded that the Tribunal's decision was legally correct. Consequently, the High Court answered the question in favor of the assessee and against the Department, disposing of the reference without costs. Case-Laws Income Tax Fri, 26 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16843