https://www.taxtmi.com/caselaws?id=10564 The Tribunal upheld the depreciation allowance based on the holding company's written down value, rejecting the assessee's claim for higher figures. The court ruled in favor of the Revenue, emphasizing that the change in the holding company status did not affect the correctness of the depreciation allowance based on legal provisions and previous rulings. The actual cost to the assessee was determined to be the written down value of the transferor company, in accordance with Section 43 of the Income-tax Act, 1961. The judgment highlighted the static nature of the actual cost for the assessee and differentiated the case from scenarios involving gift or inheritance. en-us Thu, 14 Oct 2004 00:00:00 +0530 Fri, 17 Jul 2009 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10564 The Tribunal upheld the depreciation allowance based on the holding company's written down value, rejecting the assessee's claim for higher figures. The court ruled in favor of the Revenue, emphasizing that the change in the holding company status did not affect the correctness of the depreciation allowance based on legal provisions and previous rulings. The actual cost to the assessee was determined to be the written down value of the transferor company, in accordance with Section 43 of the Income-tax Act, 1961. The judgment highlighted the static nature of the actual cost for the assessee and differentiated the case from scenarios involving gift or inheritance. Case-Laws Income Tax Thu, 14 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10564