https://www.taxtmi.com/caselaws?id=26465 The judgment clarified the computation of capital employed for deduction under section 80J of the Income-tax Act, 1961, emphasizing the exclusion of borrowed capital and the importance of written down value. It also addressed the maintainability of an appeal under section 246(1) u/s 144B(2), ruling in favor of the assessee who had not objected to the draft assessment order, affirming the right of appeal cannot be assumed abandoned. The reference was disposed of with no order as to costs, with both judges concurring with the decision. en-us Tue, 08 Apr 1986 00:00:00 +0530 Fri, 05 Feb 2010 11:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26465 The judgment clarified the computation of capital employed for deduction under section 80J of the Income-tax Act, 1961, emphasizing the exclusion of borrowed capital and the importance of written down value. It also addressed the maintainability of an appeal under section 246(1) u/s 144B(2), ruling in favor of the assessee who had not objected to the draft assessment order, affirming the right of appeal cannot be assumed abandoned. The reference was disposed of with no order as to costs, with both judges concurring with the decision. Case-Laws Income Tax Tue, 08 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26465