https://www.taxtmi.com/caselaws?id=57287 The Tribunal partly allowed the appeals, providing detailed interpretations of relevant sections. It clarified that all incomes of the company should be included in the computation of profits for Section 32AB. The disallowance of depreciation on godowns was upheld, with rental income categorized as "Income from house property." The Tribunal remanded the issue of depreciation on trucks for reconsideration. The deduction under Section 48(2) was restored for fresh adjudication. Reassessment proceedings under Section 147 were deemed valid, and certain incomes were included for computing deduction under Section 32AB. The levy of interest under Section 234B in reassessment proceedings was upheld. en-us Fri, 30 Apr 2004 00:00:00 +0530 Thu, 09 Dec 2010 13:10:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57287 The Tribunal partly allowed the appeals, providing detailed interpretations of relevant sections. It clarified that all incomes of the company should be included in the computation of profits for Section 32AB. The disallowance of depreciation on godowns was upheld, with rental income categorized as "Income from house property." The Tribunal remanded the issue of depreciation on trucks for reconsideration. The deduction under Section 48(2) was restored for fresh adjudication. Reassessment proceedings under Section 147 were deemed valid, and certain incomes were included for computing deduction under Section 32AB. The levy of interest under Section 234B in reassessment proceedings was upheld. Case-Laws Income Tax Fri, 30 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57287