https://www.taxtmi.com/caselaws?id=19675 The Court ruled against the assessee in a case concerning the interpretation of section 32(1)(iii) of the Income-tax Act, 1961. The Court held that the surrender of a building by the assessee did not qualify as discarding or demolition as required by the section. Additionally, the assessee failed to fulfill the condition of writing off the deficiency in the books, as mandated by the proviso to the section. Consequently, the Court denied the depreciation claim, emphasizing the necessity of complying with the section's proviso for availing benefits under the Act. en-us Thu, 14 Jul 1994 00:00:00 +0530 Sat, 07 Nov 2009 17:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19675 The Court ruled against the assessee in a case concerning the interpretation of section 32(1)(iii) of the Income-tax Act, 1961. The Court held that the surrender of a building by the assessee did not qualify as discarding or demolition as required by the section. Additionally, the assessee failed to fulfill the condition of writing off the deficiency in the books, as mandated by the proviso to the section. Consequently, the Court denied the depreciation claim, emphasizing the necessity of complying with the section's proviso for availing benefits under the Act. Case-Laws Income Tax Thu, 14 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19675