2009 (3) TMI 16

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..... into account amount of depreciation and it has to be so read in the context of S. 115 J – so, tribunal rightly allowed further deduction on account of unabsorbed depreciation, from the book profit - 106 of 2002 - - - Dated:- 18-3-2009 - F.I. Rebello and R.S. Mohite, JJ. Mr. P.S. Sahadevan for the applicants. JUDGMENT The judgment of the court was delivered by R.S. MOHITE, J. - Th .....

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..... o to clause-(b) of Section 205(1) of the Companies Act signifies the amount arrived at after taking into account amount of depreciation and it has to be so read and understood in the context of section 115 J of the Income-tax Act. 3. As indicated by the Tribunal and the record, the department proceeded on the footing "loss" did not include depreciation debited in the books and on the footing t .....

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