https://www.taxtmi.com/caselaws?id=20686 The High Court affirmed that only 40% of the depreciation should be deducted when computing the written down value of depreciable assets in the tea business. The court remanded the issues regarding the applicability of section 40A(8) on current account balances and the consideration of net interest payable under section 40A(8) to the Tribunal for further examination and fact-finding, without providing a definitive answer. The Tribunal was directed to allow parties to present additional evidence as necessary. No costs were awarded. en-us Wed, 25 Aug 1993 00:00:00 +0530 Mon, 16 Nov 2009 15:44:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20686 The High Court affirmed that only 40% of the depreciation should be deducted when computing the written down value of depreciable assets in the tea business. The court remanded the issues regarding the applicability of section 40A(8) on current account balances and the consideration of net interest payable under section 40A(8) to the Tribunal for further examination and fact-finding, without providing a definitive answer. The Tribunal was directed to allow parties to present additional evidence as necessary. No costs were awarded. Case-Laws Income Tax Wed, 25 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20686