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1963 (10) TMI 5 - SC - Income TaxWhether the Bhavnagar War Profits Act is covered by the word " any law relating to tax on profits of business " ? Held that:- The Bhavnagar War Profits Act is within the words " any law relating to tax on profits of business " in paragraph 2 of the Removal of Difficulties Order. We hold that the High Court has rightly decided that the depreciation availed of by the assessee under the Bhavnagar War Profits Act was a deductible amount in computing the written down value of the assets. Appeal dismissed.
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