https://www.taxtmi.com/caselaws?id=181910 Obsolescence allowance under section 10(2)(vii) was considered to depend on whether the relevant amount had actually been written off in the assessee's books, not on maintenance of any prescribed set of accounts. The absence of a complete day-book and ledger did not defeat the claim where the assessee maintained subsidiary books and a buses valuation book containing the write-off entry. Section 13, which permits estimated computation where the accounting method is defective, was held irrelevant to compliance with the proviso to section 10(2)(vii). On that basis, the disallowance was not justified and the allowance was allowable. en-us Wed, 17 Mar 1965 00:00:00 +0530 Wed, 27 Apr 2016 14:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181910 Obsolescence allowance under section 10(2)(vii) was considered to depend on whether the relevant amount had actually been written off in the assessee's books, not on maintenance of any prescribed set of accounts. The absence of a complete day-book and ledger did not defeat the claim where the assessee maintained subsidiary books and a buses valuation book containing the write-off entry. Section 13, which permits estimated computation where the accounting method is defective, was held irrelevant to compliance with the proviso to section 10(2)(vii). On that basis, the disallowance was not justified and the allowance was allowable. Case-Laws Income Tax Wed, 17 Mar 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181910