https://www.taxtmi.com/caselaws?id=27547 An amount adjusted for excess depreciation charged in earlier years cannot be treated as part of capital for computing the statutory deduction under the Companies (Profits) Surtax Act, 1964. The Calcutta HC followed its earlier Division Bench ruling in the assessee's own case, found no reason to depart from it, and held that a later decision cited by the assessee did not displace that precedent. The excess depreciation adjustment was therefore excluded from capital for surtax computation, and the issue was decided against the assessee. en-us Mon, 12 Dec 1983 00:00:00 +0530 Sat, 13 Feb 2010 15:20:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27547 An amount adjusted for excess depreciation charged in earlier years cannot be treated as part of capital for computing the statutory deduction under the Companies (Profits) Surtax Act, 1964. The Calcutta HC followed its earlier Division Bench ruling in the assessee's own case, found no reason to depart from it, and held that a later decision cited by the assessee did not displace that precedent. The excess depreciation adjustment was therefore excluded from capital for surtax computation, and the issue was decided against the assessee. Case-Laws Income Tax Mon, 12 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27547