COMMISSIONER OF INCOME TAX Vs. SHREE TRIVENI FOODS

JUDGEMENT

(1.) THE following substantial questions of law are common in all the appeals: - -

(2.) WHETHER the profits eligible for deduction under Section 80IB(4) of the Income Tax Act are necessarily to be computed after allowing depreciation under Section 32?

(3.) THE Assessing Officer also held in the assessment that though the assessee had not claimed depreciation in assessment year 2000 -01 and 2001 -02, the same should be allowed while computing the eligible profits and the depreciation allowable alongwith WDV to be carried forward in each of the years was recomputed in the assessments made.