https://www.taxtmi.com/caselaws?id=59197 The Tribunal ruled that for the purpose of deduction under section 80J of the Income-tax Act, the written down value of assets in the hands of the industrial undertaking before acquisition by the assessee should be considered for computing capital employed, rather than the book value. The Tribunal emphasized the distinction between actual cost for depreciation and cost of acquisition for section 80J purposes, rejecting the assessee's argument that depreciation on book value should apply. The appeal was dismissed, upholding the use of written down value for section 80J deduction. en-us Tue, 13 Jan 1987 00:00:00 +0530 Sat, 25 Dec 2010 16:31:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59197 The Tribunal ruled that for the purpose of deduction under section 80J of the Income-tax Act, the written down value of assets in the hands of the industrial undertaking before acquisition by the assessee should be considered for computing capital employed, rather than the book value. The Tribunal emphasized the distinction between actual cost for depreciation and cost of acquisition for section 80J purposes, rejecting the assessee's argument that depreciation on book value should apply. The appeal was dismissed, upholding the use of written down value for section 80J deduction. Case-Laws Income Tax Tue, 13 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59197