Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1997 (7) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1997 (7) TMI 17 - SC - Income TaxAssessee, a sterling company maintaining accounts in pound sterling - Tribunal was right in holding that for the purpose of computation of the admissible amounts of depreciation under section 32(1)(iii) and/or development rebate and profit under section 41(2) of the Act for the assessment years 1968-69 and 1969-70, the written down value of the fixed assets should be determined not in pound sterling, but in equivalent amount of rupees
|