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Home › All Judgements › Plastiblends vs. ACIT (Bombay High Court)

Plastiblends vs. ACIT (Bombay High Court)

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COURT:
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DATE: (Date of pronouncement)
DATE: December 19, 2008 (Date of publication)
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CITATION:

Depreciation, whether mandatory for Ch. VI-A, referred to Full Bench.

On the question as to whether for the purpose of availing deduction under Ch VI-A of the Act, the gross total income is required to be computed by deducting allowable depreciation even though the assessee had disclaimed the same for the purpose of regular assessment, there is a conflict of views between two Division Benches of the Court in Grasim Industries Ltd 245 ITR 677 and Scoop Industries 289 ITR 195. Accordingly, the issue has to be referred to the Full Bench.

But see: Dabur India Ltd vs. CIT (Delhi High Court) where Vahid Paper Mills 98 ITD 165 (SB) (Ahd) was upheld.

UPDATE: The judgement of the Full Bench is available here.

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