https://www.taxtmi.com/caselaws?id=17416 The High Court of Madhya Pradesh ruled in favor of the Revenue, stating that unabsorbed depreciation must be deducted when calculating the written down value for the purpose of claiming a deduction under section 80J of the Income-tax Act, 1961. The Court emphasized that unabsorbed depreciation is a crucial factor in determining the capital employed in an industrial undertaking or business eligible for the deduction, as per Explanation 3 to section 43(6) of the Act. The decision clarified the correct interpretation of the law in this context, resolving the dispute raised in the case. en-us Fri, 23 Aug 1996 00:00:00 +0530 Tue, 22 Sep 2009 12:39:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17416 The High Court of Madhya Pradesh ruled in favor of the Revenue, stating that unabsorbed depreciation must be deducted when calculating the written down value for the purpose of claiming a deduction under section 80J of the Income-tax Act, 1961. The Court emphasized that unabsorbed depreciation is a crucial factor in determining the capital employed in an industrial undertaking or business eligible for the deduction, as per Explanation 3 to section 43(6) of the Act. The decision clarified the correct interpretation of the law in this context, resolving the dispute raised in the case. Case-Laws Income Tax Fri, 23 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17416