https://www.taxtmi.com/caselaws?id=25040 The Court treated three income-tax issues as governed by binding precedent: weighted deduction under section 35B was not available on freight and insurance expenditure; surtax liability for the year was not deductible in computing total income; and, for section 80J capital employed, the written down value of depreciable assets, not original cost, had to be adopted. The reference was disposed of in favour of the Revenue on all questions, and a certificate for appeal to the Supreme Court was granted on the surtax issue. The stated principle was that an issue already concluded by binding precedent must be decided consistently with that earlier view. en-us Tue, 28 Jan 1986 00:00:00 +0530 Mon, 25 Jan 2010 10:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25040 The Court treated three income-tax issues as governed by binding precedent: weighted deduction under section 35B was not available on freight and insurance expenditure; surtax liability for the year was not deductible in computing total income; and, for section 80J capital employed, the written down value of depreciable assets, not original cost, had to be adopted. The reference was disposed of in favour of the Revenue on all questions, and a certificate for appeal to the Supreme Court was granted on the surtax issue. The stated principle was that an issue already concluded by binding precedent must be decided consistently with that earlier view. Case-Laws Income Tax Tue, 28 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25040