https://www.taxtmi.com/caselaws?id=64454 The Tribunal held that full depreciation should be allowed for each period as the two firms were treated as distinct entities with separate assessments. Citing legal provisions and the decision in Malabar Fisheries Co., the Tribunal emphasized that assets were not sold but taken over by the succeeding firm, justifying the allowance of full depreciation for both periods. The Department's appeal was dismissed, affirming the decision to allow depreciation twice on the same set of machinery used by the assessee firm before and after the death of one of the partners in the same assessment year. en-us Fri, 15 Dec 1989 00:00:00 +0530 Mon, 07 Feb 2011 18:57:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64454 The Tribunal held that full depreciation should be allowed for each period as the two firms were treated as distinct entities with separate assessments. Citing legal provisions and the decision in Malabar Fisheries Co., the Tribunal emphasized that assets were not sold but taken over by the succeeding firm, justifying the allowance of full depreciation for both periods. The Department's appeal was dismissed, affirming the decision to allow depreciation twice on the same set of machinery used by the assessee firm before and after the death of one of the partners in the same assessment year. Case-Laws Income Tax Fri, 15 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64454