https://www.taxtmi.com/caselaws?id=177347 The High Court upheld the disallowance of the loss claimed by the assessee for the business but ruled in favor of allowing the depreciation allowance. The court emphasized the statutory requirement to grant depreciation regardless of the reliability of account books. The Income-tax Officer's decision to reject depreciation was deemed unjustified. Each party was directed to bear their own costs, with the counsel for the Income-tax Department assessed a fee of &8377;200. en-us Tue, 30 Aug 1960 00:00:00 +0530 Thu, 07 Jan 2016 15:56:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177347 The High Court upheld the disallowance of the loss claimed by the assessee for the business but ruled in favor of allowing the depreciation allowance. The court emphasized the statutory requirement to grant depreciation regardless of the reliability of account books. The Income-tax Officer's decision to reject depreciation was deemed unjustified. Each party was directed to bear their own costs, with the counsel for the Income-tax Department assessed a fee of &8377;200. Case-Laws Income Tax Tue, 30 Aug 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177347