https://www.taxtmi.com/caselaws?id=374420 Depreciation on assets acquired on demerger required verification of how those assets were treated in earlier assessment years and whether depreciation had to be computed on written down value under Explanation 7 to section 43(1); the issue was therefore remitted for fresh examination by the Assessing Officer. Deduction under section 80IC was allowed because the audit report in Form 10CCB was treated as filed and examined, and the direction to allow the claim as per law was sustained. en-us Mon, 28 Jan 2019 00:00:00 +0530 Thu, 31 Jan 2019 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374420 Depreciation on assets acquired on demerger required verification of how those assets were treated in earlier assessment years and whether depreciation had to be computed on written down value under Explanation 7 to section 43(1); the issue was therefore remitted for fresh examination by the Assessing Officer. Deduction under section 80IC was allowed because the audit report in Form 10CCB was treated as filed and examined, and the direction to allow the claim as per law was sustained. Case-Laws Income Tax Mon, 28 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374420