MAT on depreciation on write back of excess depreciation provided in earlier 10 years & credited to P&L A/c of current year

ACIT Vs M/s. Rational Handloom Co. Pvt. Ltd. (ITAT Mumbai) MAT on depreciation on write back of excess depreciation provided in earlier 10 years and credited to profit and loss account of current year. The appellant has contested the action of the Assessing Officer on the ground that the appellant has rightly taken the books profit at Rs. 5,33,28,194/- as per the Form No. 29B, u/s. 155JB of the I.T. Act, 1961. The figures of depreciation written back of the earliest years for the A.Y. 2001-02 to 2010-11 for Rs. 5,37,61,180/- are not liable to be considered for the purpose of book profit or ded...