https://www.taxtmi.com/caselaws?id=185130 Depreciation under Section 10(2)(vi) was analysed as a statutory allowance tied to business use of buildings, machinery, plant or furniture, with no general basis for reducing it merely because ownership or use covered only part of the accounting year. The note distinguishes this from the specific apportionment and adjustment provisions for sold assets and for assets not wholly used for business purposes. On that reasoning, part-year ownership or use alone does not justify proportionate disallowance of depreciation, and equitable considerations cannot override the statutory allowance. en-us Wed, 12 Dec 1945 00:00:00 +0530 Mon, 01 Aug 2016 16:43:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185130 Depreciation under Section 10(2)(vi) was analysed as a statutory allowance tied to business use of buildings, machinery, plant or furniture, with no general basis for reducing it merely because ownership or use covered only part of the accounting year. The note distinguishes this from the specific apportionment and adjustment provisions for sold assets and for assets not wholly used for business purposes. On that reasoning, part-year ownership or use alone does not justify proportionate disallowance of depreciation, and equitable considerations cannot override the statutory allowance. Case-Laws Income Tax Wed, 12 Dec 1945 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185130