https://www.taxtmi.com/caselaws?id=20305 The High Court held in favor of the Department in a case involving the interpretation of Section 115J of the Income-tax Act. It clarified that for the purpose of Section 115J, the term "loss" does not include "unabsorbed depreciation." The Court also found the constitution of the Special Bench of the Income-tax Appellate Tribunal to be arbitrary and unreasonable, as it was based on non-existing grounds. Additionally, the Court ruled that there was a violation of natural justice as the Department was not given a fair opportunity to present its case. The decision of the Special Bench was set aside by the High Court. en-us Fri, 31 Dec 1993 00:00:00 +0530 Sat, 29 Apr 2017 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20305 The High Court held in favor of the Department in a case involving the interpretation of Section 115J of the Income-tax Act. It clarified that for the purpose of Section 115J, the term "loss" does not include "unabsorbed depreciation." The Court also found the constitution of the Special Bench of the Income-tax Appellate Tribunal to be arbitrary and unreasonable, as it was based on non-existing grounds. Additionally, the Court ruled that there was a violation of natural justice as the Department was not given a fair opportunity to present its case. The decision of the Special Bench was set aside by the High Court. Case-Laws Income Tax Fri, 31 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20305