https://www.taxtmi.com/caselaws?id=168664 Depreciation was required to be computed on written down value linked to the assessee's actual cost and prior depreciation allowed, so the assessing officer could examine the original cost when necessary to fix the relevant base. The scheme did not confine the inquiry to the immediately preceding year's figure. On that footing, neither res judicata nor estoppel prevented reconsideration of the earlier accepted cost for depreciation purposes, and the officer was entitled to determine the actual cost afresh for the assessment year. en-us Mon, 29 Jun 1953 00:00:00 +0530 Thu, 19 Mar 2015 18:38:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168664 Depreciation was required to be computed on written down value linked to the assessee's actual cost and prior depreciation allowed, so the assessing officer could examine the original cost when necessary to fix the relevant base. The scheme did not confine the inquiry to the immediately preceding year's figure. On that footing, neither res judicata nor estoppel prevented reconsideration of the earlier accepted cost for depreciation purposes, and the officer was entitled to determine the actual cost afresh for the assessment year. Case-Laws Income Tax Mon, 29 Jun 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168664