https://www.taxtmi.com/caselaws?id=16858 The High Court of Madhya Pradesh ruled in favor of the assessee concerning the interpretation of provisions related to unabsorbed depreciation and business loss for book profit calculation. The court upheld the Tribunal's decision to include unabsorbed depreciation in the computation of loss, emphasizing its indefinite carry-forward nature compared to unabsorbed losses. By aligning with the Tribunal's interpretation, the court clarified the treatment of unabsorbed depreciation in computing book profit under section 115J of the Income-tax Act, resolving the primary issue and rendering further consideration of additional issues unnecessary. en-us Fri, 23 Aug 1996 00:00:00 +0530 Sat, 12 Sep 2009 16:12:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16858 The High Court of Madhya Pradesh ruled in favor of the assessee concerning the interpretation of provisions related to unabsorbed depreciation and business loss for book profit calculation. The court upheld the Tribunal's decision to include unabsorbed depreciation in the computation of loss, emphasizing its indefinite carry-forward nature compared to unabsorbed losses. By aligning with the Tribunal's interpretation, the court clarified the treatment of unabsorbed depreciation in computing book profit under section 115J of the Income-tax Act, resolving the primary issue and rendering further consideration of additional issues unnecessary. Case-Laws Income Tax Fri, 23 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16858