https://www.taxtmi.com/caselaws?id=61068 The appeal was partly allowed by the Tribunal. The delay in filing the appeal was condoned due to the assessee not receiving a challan for payment of fees. Regarding the calculation of profit chargeable under s. 41(2), the Tribunal ruled in favor of the assessee, holding that no profit was taxable as depreciation was not actually allowed in previous years. The Tribunal referenced legal precedents to support this interpretation. The issue of interest charges under s. 139 and s. 271 was not pursued by the assessee during the proceedings. en-us Sat, 04 Sep 1976 00:00:00 +0530 Mon, 10 Jan 2011 17:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61068 The appeal was partly allowed by the Tribunal. The delay in filing the appeal was condoned due to the assessee not receiving a challan for payment of fees. Regarding the calculation of profit chargeable under s. 41(2), the Tribunal ruled in favor of the assessee, holding that no profit was taxable as depreciation was not actually allowed in previous years. The Tribunal referenced legal precedents to support this interpretation. The issue of interest charges under s. 139 and s. 271 was not pursued by the assessee during the proceedings. Case-Laws Income Tax Sat, 04 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61068