https://www.taxtmi.com/caselaws?id=57538 The Tribunal ruled in favor of the assessee, a 100% export-oriented industrial unit, in a tax dispute concerning the adjustment of unabsorbed depreciation and the interpretation of Section 10B. The Tribunal held that unabsorbed depreciation should be adjusted against other income and not the income of the export-oriented business undertaking. It emphasized that Section 10B provides complete exemption for profits and gains from such undertakings, supporting a liberal interpretation of beneficial tax provisions. The Tribunal found the CIT's order incorrect and canceled it, upholding the assessee's appeal. en-us Mon, 19 May 1997 00:00:00 +0530 Fri, 10 Dec 2010 16:47:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57538 The Tribunal ruled in favor of the assessee, a 100% export-oriented industrial unit, in a tax dispute concerning the adjustment of unabsorbed depreciation and the interpretation of Section 10B. The Tribunal held that unabsorbed depreciation should be adjusted against other income and not the income of the export-oriented business undertaking. It emphasized that Section 10B provides complete exemption for profits and gains from such undertakings, supporting a liberal interpretation of beneficial tax provisions. The Tribunal found the CIT's order incorrect and canceled it, upholding the assessee's appeal. Case-Laws Income Tax Mon, 19 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57538