https://www.taxtmi.com/caselaws?id=8041 The court ruled in favor of the assessee, determining that depreciation on the motor truck should be calculated based on the cost price of Rs. 30,000 rather than the lower amount of Rs. 13,360. The court emphasized that the "written down value" requires actual depreciation allowed, not notional allowances. As no actual depreciation was allowed in previous years, the written down value for the assessment year 1962-63 had to be accepted at the cost price of Rs. 30,000. The Commissioner of Income-tax was directed to pay the assessee Rs. 200 as costs for the reference. en-us Thu, 03 Dec 1970 00:00:00 +0530 Fri, 27 Mar 2009 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8041 The court ruled in favor of the assessee, determining that depreciation on the motor truck should be calculated based on the cost price of Rs. 30,000 rather than the lower amount of Rs. 13,360. The court emphasized that the "written down value" requires actual depreciation allowed, not notional allowances. As no actual depreciation was allowed in previous years, the written down value for the assessment year 1962-63 had to be accepted at the cost price of Rs. 30,000. The Commissioner of Income-tax was directed to pay the assessee Rs. 200 as costs for the reference. Case-Laws Income Tax Thu, 03 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8041