https://www.taxtmi.com/circulars?id=8920 Depreciation on enhanced cost is allowed only when an assessee had an outstanding purchase or foreign-loan liability on the date of devaluation and the additional rupee liability was discharged after devaluation; enhancement of asset value for wealth-tax does not automatically permit depreciation on the enhanced amount, and where full price was paid before devaluation depreciation remains on the original cost. en-us Wed, 15 Nov 1972 00:00:00 +0530 Mon, 30 May 2011 19:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8920 Depreciation on enhanced cost is allowed only when an assessee had an outstanding purchase or foreign-loan liability on the date of devaluation and the additional rupee liability was discharged after devaluation; enhancement of asset value for wealth-tax does not automatically permit depreciation on the enhanced amount, and where full price was paid before devaluation depreciation remains on the original cost. Circulars Income Tax Wed, 15 Nov 1972 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8920