https://www.taxtmi.com/caselaws?id=26530 The High Court ruled in favor of the assessee, holding that unallocated capital expenditure should be included in the computation of capital employed for the purpose of section 80J of the Income-tax Act, 1961. The Court emphasized that the unallocated amount formed part of the capital employed, even if not specifically allocated to assets, and should be considered for calculating deductions under section 80J. The Commissioner's argument against inclusion based on difficulties in calculating depreciated written down value was rejected, as depreciation was not applicable to assets not yet used. The Court upheld the Tribunal's decision and directed the Revenue to pay the costs of the reference to the assessee. en-us Wed, 11 Sep 1985 00:00:00 +0530 Fri, 05 Feb 2010 16:04:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26530 The High Court ruled in favor of the assessee, holding that unallocated capital expenditure should be included in the computation of capital employed for the purpose of section 80J of the Income-tax Act, 1961. The Court emphasized that the unallocated amount formed part of the capital employed, even if not specifically allocated to assets, and should be considered for calculating deductions under section 80J. The Commissioner's argument against inclusion based on difficulties in calculating depreciated written down value was rejected, as depreciation was not applicable to assets not yet used. The Court upheld the Tribunal's decision and directed the Revenue to pay the costs of the reference to the assessee. Case-Laws Income Tax Wed, 11 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26530