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While computing normal profits which do not involve Ch VI-A relief, an assessee is entitled not to claim depreciation. However, where deduction under Ch VI-A is claimed depreciation is mandatory.
Vahid Paper Mills 98 ITD 165 (SB) (Ahd) approved.
See also: Scoop Industries (Bom-Goa).
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[…] see: Dabur India Ltd vs. CIT (Delhi High Court) where Vahid Paper Mills 98 ITD 165 (SB) (Ahd) was upheld. Posted in All Judgements, High […]