TMI BlogAdditions on account of profit on the sale of machinery of a closed-down unit. - The court held that...Additions on account of profit on the sale of machinery of a closed-down unit. - The court held that reducing the block assets by the amount representing the sale of some assets was in accordance with Section 43(6)(c)(i)(B) of the Income Tax Act, 1961. Therefore, the deductions were allowed, and these questions were answered in favor of the assessee and against the revenue. - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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