https://www.taxtmi.com/article/detailed?id=460 Explanation 7 to section 43(6) deems depreciation computed on the whole of composite income from tea, coffee and rubber to be "actually allowed" for WDV purposes, so that full notional depreciation (including that attributable to the agricultural component) must be deducted from asset cost. This conflicts with longstanding CBDT circulars and judicial interpretation that only the proportion of depreciation actually allowed against taxable business income may be deducted, and the amendment may produce unequal interstate effects and be open to ultravires challenge. en-us Thu, 13 Aug 2009 00:00:00 +0530 Tue, 04 Jan 2011 10:32:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=460 Explanation 7 to section 43(6) deems depreciation computed on the whole of composite income from tea, coffee and rubber to be "actually allowed" for WDV purposes, so that full notional depreciation (including that attributable to the agricultural component) must be deducted from asset cost. This conflicts with longstanding CBDT circulars and judicial interpretation that only the proportion of depreciation actually allowed against taxable business income may be deducted, and the amendment may produce unequal interstate effects and be open to ultravires challenge. Articles Income Tax Thu, 13 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=460