https://www.taxtmi.com/caselaws?id=184886 Depreciation under Section 10(2)(vi) of the Income-tax Act, 1922 is not reduced merely because plant and machinery was used for only part of the previous year, so long as the asset was wholly used for the assessee's business during the period of use. Section 10(3) was treated as applying only where the asset was not wholly used for business purposes, and not as a basis for apportioning depreciation by time. Section 26(2) was described as governing liability and succession in business, not the computation of depreciation allowance. en-us Fri, 18 Jan 1946 00:00:00 +0530 Sat, 23 Jul 2016 13:18:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184886 Depreciation under Section 10(2)(vi) of the Income-tax Act, 1922 is not reduced merely because plant and machinery was used for only part of the previous year, so long as the asset was wholly used for the assessee's business during the period of use. Section 10(3) was treated as applying only where the asset was not wholly used for business purposes, and not as a basis for apportioning depreciation by time. Section 26(2) was described as governing liability and succession in business, not the computation of depreciation allowance. Case-Laws Income Tax Fri, 18 Jan 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184886