https://www.taxtmi.com/caselaws?id=275856 For assessment years after the commencement of the Income-tax Act, 1961, depreciation on assets acquired before 1-4-1961 is to be computed under the 1961 Act by reference to the written down value and actual cost under sections 43(1) and 43(6), not under the Indian Income-tax Act, 1922. The court treated the point as covered by its earlier decision and applied that precedent to hold that the post-1961 depreciation computation regime governs even for pre-1961 assets. The issue was therefore decided in favour of the Revenue and against the assessee. en-us Mon, 03 Sep 1984 00:00:00 +0530 Sat, 20 Oct 2018 12:02:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275856 For assessment years after the commencement of the Income-tax Act, 1961, depreciation on assets acquired before 1-4-1961 is to be computed under the 1961 Act by reference to the written down value and actual cost under sections 43(1) and 43(6), not under the Indian Income-tax Act, 1922. The court treated the point as covered by its earlier decision and applied that precedent to hold that the post-1961 depreciation computation regime governs even for pre-1961 assets. The issue was therefore decided in favour of the Revenue and against the assessee. Case-Laws Income Tax Mon, 03 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275856