https://www.taxtmi.com/caselaws?id=15147 The applicable law for an assessment year is the law in force on the first day of that year, so an amendment effective from 2 April 1983 could not apply to assessment year 1981-82 merely because the assessment was still pending. The pendency of assessment proceedings does not, by itself, extend an amended depreciation rate to an earlier year. The assessee was therefore not entitled to the amended rate for assessment year 1981-82, and the reference was answered in favour of the Revenue. en-us Thu, 16 Apr 1998 00:00:00 +0530 Mon, 03 Aug 2009 13:11:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15147 The applicable law for an assessment year is the law in force on the first day of that year, so an amendment effective from 2 April 1983 could not apply to assessment year 1981-82 merely because the assessment was still pending. The pendency of assessment proceedings does not, by itself, extend an amended depreciation rate to an earlier year. The assessee was therefore not entitled to the amended rate for assessment year 1981-82, and the reference was answered in favour of the Revenue. Case-Laws Income Tax Thu, 16 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15147