https://www.taxtmi.com/caselaws?id=276426 For computing written down value under the income-tax provisions, only depreciation actually allowed can be deducted; depreciation merely allowable cannot be imported into the calculation. The court reasoned that the statutory definition of written down value turns on depreciation in fact granted, and section 10(3) does not justify substituting a notional allowance where the asset was partly used for business and partly for non-business purposes. Applying that approach, the sale of the motor car resulted in the larger loss claimed by the assessee, namely Rs. 708. en-us Wed, 07 Sep 1960 00:00:00 +0530 Sat, 10 Nov 2018 13:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276426 For computing written down value under the income-tax provisions, only depreciation actually allowed can be deducted; depreciation merely allowable cannot be imported into the calculation. The court reasoned that the statutory definition of written down value turns on depreciation in fact granted, and section 10(3) does not justify substituting a notional allowance where the asset was partly used for business and partly for non-business purposes. Applying that approach, the sale of the motor car resulted in the larger loss claimed by the assessee, namely Rs. 708. Case-Laws Income Tax Wed, 07 Sep 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276426