https://www.taxtmi.com/caselaws?id=59109 The Tribunal allowed the appeal against an additional tax demand under section 104 of the Income-tax Act, 1961. The Tribunal considered the prudent depreciation provision for replacement costs and the significance of commercial profits and paid-up capital in dividend declarations. Relying on the smallness of commercial profits, the Tribunal exempted the assessee from section 104, canceling the ITO's order and emphasizing the importance of depreciation provision and commercial profitability in determining distributable income and tax liability. en-us Fri, 11 May 1984 00:00:00 +0530 Sat, 25 Dec 2010 11:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59109 The Tribunal allowed the appeal against an additional tax demand under section 104 of the Income-tax Act, 1961. The Tribunal considered the prudent depreciation provision for replacement costs and the significance of commercial profits and paid-up capital in dividend declarations. Relying on the smallness of commercial profits, the Tribunal exempted the assessee from section 104, canceling the ITO's order and emphasizing the importance of depreciation provision and commercial profitability in determining distributable income and tax liability. Case-Laws Income Tax Fri, 11 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59109