https://www.taxtmi.com/article/detailed?id=94 Section 43(6) defines written down value as actual cost less depreciation actually allowed; notional or merely allowable depreciation is excluded. Where Rule 8 apportions composite income between exempt agricultural and taxable business income (commonly 60:40 for tea), only the proportion of depreciation corresponding to the taxable share (40%) is deductible from actual cost to determine WDV. Recent Kerala High Court treatment accepting full notional depreciation for WDV overlooked section 43(6), Board circulars and binding Calcutta High Court precedent, and may be subject to review or appeal. en-us Sun, 04 May 2008 00:00:00 +0530 Thu, 20 Jan 2011 12:14:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=94 Section 43(6) defines written down value as actual cost less depreciation actually allowed; notional or merely allowable depreciation is excluded. Where Rule 8 apportions composite income between exempt agricultural and taxable business income (commonly 60:40 for tea), only the proportion of depreciation corresponding to the taxable share (40%) is deductible from actual cost to determine WDV. Recent Kerala High Court treatment accepting full notional depreciation for WDV overlooked section 43(6), Board circulars and binding Calcutta High Court precedent, and may be subject to review or appeal. Articles Income Tax Sun, 04 May 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=94