https://www.taxtmi.com/caselaws?id=58915 The Tribunal held that the change in the method of charging depreciation was bona fide and in accordance with the Companies Act and ICAI guidance. Arrears of depreciation were legitimate and could not be excluded in calculating book profit under section 115J. The Tribunal accepted that "loss" includes depreciation, allowing a set-off of Rs. 613.56 lakhs against book profits. The decision was based on a comprehensive analysis of relevant laws and precedents. en-us Thu, 18 Nov 1993 00:00:00 +0530 Wed, 22 Dec 2010 17:44:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58915 The Tribunal held that the change in the method of charging depreciation was bona fide and in accordance with the Companies Act and ICAI guidance. Arrears of depreciation were legitimate and could not be excluded in calculating book profit under section 115J. The Tribunal accepted that "loss" includes depreciation, allowing a set-off of Rs. 613.56 lakhs against book profits. The decision was based on a comprehensive analysis of relevant laws and precedents. Case-Laws Income Tax Thu, 18 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58915