https://www.taxtmi.com/caselaws?id=28032 The High Court of Calcutta upheld the Tribunal's decisions, affirming the assessee's entitlement to depreciation allowance for ships in the fleet for over 20 years, exclusion of certain profits from taxation, and deduction of losses for ships sold. The court clarified the application of relevant provisions under the Income-tax Act, 1961, ensuring a fair outcome for the parties involved. en-us Mon, 19 Jul 1982 00:00:00 +0530 Wed, 17 Feb 2010 14:25:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28032 The High Court of Calcutta upheld the Tribunal's decisions, affirming the assessee's entitlement to depreciation allowance for ships in the fleet for over 20 years, exclusion of certain profits from taxation, and deduction of losses for ships sold. The court clarified the application of relevant provisions under the Income-tax Act, 1961, ensuring a fair outcome for the parties involved. Case-Laws Income Tax Mon, 19 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28032