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E.I.D. PARRY LTD. versus COMMISSIONER OF\' INCOME-TAX

Section 41 (2) of the business tax returns related to the asset that is damaged by insurance and replaced by a new one through insurance. The new boiler will not be paid in the meaning of section 41 (2). ) The Indian Income Tax Act, 1961, damaged the boiler belonging to the SAL Capital Assessor and the new capital asset was not replaced by the insurance company, the difference between the new boiler price and the written price. No capital was assessable in terms of Indian income. The tax-defunct asset, which is destroyed under section 45 of the Tax Act, 1961, is not entitled to the Income Tax Indian Income Tax Act, 1961, Sections 32 and 34. Pakistan, top advocate family court from Khandabad lawyer