https://www.taxtmi.com/caselaws?id=24166 The court ruled in favor of the Revenue regarding the computation of depreciation and profit in pound sterling vs. equivalent rupees, as well as the revision of the written down value of assets due to a change in the definition of 'actual cost.' However, the court favored the assessee by disallowing the loss on remittance of profits and allowing the withdrawal of granted interest by the Income-tax Officer for the assessment years 1968-69 and 1969-70. The decisions were based on legal precedents and interpretations of relevant laws. en-us Tue, 18 Apr 1989 00:00:00 +0530 Mon, 18 Jan 2010 11:23:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24166 The court ruled in favor of the Revenue regarding the computation of depreciation and profit in pound sterling vs. equivalent rupees, as well as the revision of the written down value of assets due to a change in the definition of 'actual cost.' However, the court favored the assessee by disallowing the loss on remittance of profits and allowing the withdrawal of granted interest by the Income-tax Officer for the assessment years 1968-69 and 1969-70. The decisions were based on legal precedents and interpretations of relevant laws. Case-Laws Income Tax Tue, 18 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24166