https://www.taxtmi.com/caselaws?id=20776 The High Court declined to address the admission of additional grounds related to section 80J tax relief and capital computation, as the issues had become academic. Regarding depreciation, the court ruled in favor of the assessee on know-how and fans, allowing depreciation. The court also included construction work-in-progress and advances against capital purchases as assets for capital computation. In interpreting 'capital employed,' the court sided with the Revenue, holding that borrowed moneys and debts due should not be deducted from the total value of assets. The judgment provided clarity on these issues under the Income-tax Act, 1961. en-us Mon, 12 Apr 1993 00:00:00 +0530 Tue, 17 Nov 2009 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20776 The High Court declined to address the admission of additional grounds related to section 80J tax relief and capital computation, as the issues had become academic. Regarding depreciation, the court ruled in favor of the assessee on know-how and fans, allowing depreciation. The court also included construction work-in-progress and advances against capital purchases as assets for capital computation. In interpreting 'capital employed,' the court sided with the Revenue, holding that borrowed moneys and debts due should not be deducted from the total value of assets. The judgment provided clarity on these issues under the Income-tax Act, 1961. Case-Laws Income Tax Mon, 12 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20776