https://www.taxtmi.com/caselaws?id=26681 A levy imposed on cotton mills under the Industrial Tax Rules, 1927 was treated as a special industry-specific tax, not as income-tax, super-tax or a tax on business profits. Although income or profits were used as the basis for quantification, the levy's historical setting, charging provisions, and separate treatment from income-tax and super-tax showed that it was directed at the industry itself. On that basis, depreciation allowed under those Rules was not required to be deducted when computing written down value under the Income-tax Act, 1922, and the assessee's computation was accepted. en-us Thu, 05 Sep 1985 00:00:00 +0530 Sat, 06 Feb 2010 17:21:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26681 A levy imposed on cotton mills under the Industrial Tax Rules, 1927 was treated as a special industry-specific tax, not as income-tax, super-tax or a tax on business profits. Although income or profits were used as the basis for quantification, the levy's historical setting, charging provisions, and separate treatment from income-tax and super-tax showed that it was directed at the industry itself. On that basis, depreciation allowed under those Rules was not required to be deducted when computing written down value under the Income-tax Act, 1922, and the assessee's computation was accepted. Case-Laws Income Tax Thu, 05 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26681