https://www.taxtmi.com/caselaws?id=8467 Initial depreciation under section 10(2)(vi) of the Indian Income-tax Act, 1922 was held to form part of the depreciation actually allowed for computing written down value under section 10(5)(b) and for applying the second proviso to section 10(2)(vii). The exclusion of initial depreciation operated only for calculating depreciation under section 10(2)(vi) and did not require it to be ignored when determining the statutory recovery on sale. The scheme treated the sale difference as a recovery of depreciation previously allowed, so the written down value had to include initial depreciation. The issue was answered in favour of the Revenue. en-us Tue, 25 Aug 1970 00:00:00 +0530 Sun, 26 Apr 2009 22:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8467 Initial depreciation under section 10(2)(vi) of the Indian Income-tax Act, 1922 was held to form part of the depreciation actually allowed for computing written down value under section 10(5)(b) and for applying the second proviso to section 10(2)(vii). The exclusion of initial depreciation operated only for calculating depreciation under section 10(2)(vi) and did not require it to be ignored when determining the statutory recovery on sale. The scheme treated the sale difference as a recovery of depreciation previously allowed, so the written down value had to include initial depreciation. The issue was answered in favour of the Revenue. Case-Laws Income Tax Tue, 25 Aug 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8467