2013 (12) TMI 1415

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....ji Agarwal,D. Awasthi,G.Krishna,R.K. Upadhaya,S.Chopra For the Respondent : S. D. Singh ORDER We have heard Sri Govind Krishna for the appellant. Sri S.D. Singh appears for the assessee. This Income Tax Appeal under Section 260-A of the Income Tax Act, 1961 is directed against the order of the Income Tax Appellate Tribunal, Delhi Bench, Delhi dated 12.01.2004, relevant for the Assessme....

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....terpretation of the first proviso below sub section 2 of Section 115 - JA of the Act and in accepting the depreciation as per profit and loss account laid before the Company of its annual general meeting and ignoring the other vital part of the proviso in accordance with the provisions of Section 210 of the Companies Act, 1956 and also ignoring the ratio of law laid down by the Kerala high Court i....

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.... the depreciation, considered for the purposes of working out the book profit under Section 115-JA, has been calculated on the same method and the rates, which have been adopted for calculating the depreciation for the purposes of preparing its profit and loss account, which was laid before the company at it Annual General Meeting in accordance with the provisions of Section 210. We do find tha....