https://www.taxtmi.com/caselaws?id=435723 The Tribunal allowed the assessee's appeal, ruling that accumulated profits for the purpose of Section 2(22)(e) of the Income Tax Act should be determined after accounting for depreciation as per the Act. Consequently, the Tribunal set aside the Ld. CIT(A)'s order and directed the AO to delete the disallowance addition of Rs. 4,55,83,131/-. en-us Thu, 23 Mar 2023 00:00:00 +0530 Fri, 20 Dec 2024 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435723 The Tribunal allowed the assessee's appeal, ruling that accumulated profits for the purpose of Section 2(22)(e) of the Income Tax Act should be determined after accounting for depreciation as per the Act. Consequently, the Tribunal set aside the Ld. CIT(A)'s order and directed the AO to delete the disallowance addition of Rs. 4,55,83,131/-. Case-Laws Income Tax Thu, 23 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435723