S. 32 Deduction for depreciation allowable irrespective of treatment in books.

HIGH COURT OF CALCUTTA Mapex Infrastructure (P.) Ltd. versus Commissioner of Income-tax IT APPEAL NO. 447 OF 2007 OCTOBER 19, 2012 JUDGMENT Kalyan Jyoti Sengupta, Actg. CJ. – The above appeal is directed against the judgment and order dated 9th March 2007 passed by the Income Tax Appellate Tribunal, ‘E’ Bench, Kolkata in I.T.A. 2087 (Kol) of 2006 for the assessment year 2003-04. It was admitted by an order dated 23rd August, 2007 on the following substantial questions of law:- “1.  Whether on a true and proper interpretation of the provisions of explan...