SC : Depreciation claim mandatory while computing Sec. 80IA deduction, dismisses assessee's appeal

Oct 09,2017

SC rules in favour of Revenue, dismisses assessee's appeal challenging Bombay HC Full bench decision in case of Plastiblends India Ltd for AY 1997-98; Bombay HC had held that assessee had no choice regarding claiming depreciation while computing deduction u/s 80IA; HC had distinguished assessee's reliance on Apex Court ruling in Mahindra Mills (holding that depreciation claim is optional) observing that it was in context of Chapter IV (Computation of income) ...

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