https://www.taxtmi.com/caselaws?id=16208 The High Court held that the modified depreciation rates introduced by the Income-tax (Fourth Amendment) Rules, 1983 should not be applied retrospectively to pending assessments before the amendment's effective date. The enhanced depreciation rate of 15% was deemed applicable only from the assessment year 1984-85 onwards. The judgment favored the Revenue, ruling that the amended rates should only apply to assessments starting from 1984-85, not earlier pending assessments. en-us Fri, 20 Mar 1998 00:00:00 +0530 Tue, 01 Sep 2009 17:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16208 The High Court held that the modified depreciation rates introduced by the Income-tax (Fourth Amendment) Rules, 1983 should not be applied retrospectively to pending assessments before the amendment's effective date. The enhanced depreciation rate of 15% was deemed applicable only from the assessment year 1984-85 onwards. The judgment favored the Revenue, ruling that the amended rates should only apply to assessments starting from 1984-85, not earlier pending assessments. Case-Laws Income Tax Fri, 20 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16208