https://www.taxtmi.com/caselaws?id=283401 The expression "original cost" in Section 10(2)(vi) of the Income-tax Act, 1922 was construed strictly as the genuine original cost to the assessee, not the cost incurred by a predecessor in business or a figure merely attributed by the assessee. The court emphasised that this construction prevents fictitious allocation of purchase price and possible fraud in depreciation claims. Accordingly, for depreciation purposes, the relevant cost is the assessee's actual original cost. en-us Wed, 27 Apr 1932 00:00:00 +0530 Sat, 21 Sep 2019 10:54:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283401 The expression "original cost" in Section 10(2)(vi) of the Income-tax Act, 1922 was construed strictly as the genuine original cost to the assessee, not the cost incurred by a predecessor in business or a figure merely attributed by the assessee. The court emphasised that this construction prevents fictitious allocation of purchase price and possible fraud in depreciation claims. Accordingly, for depreciation purposes, the relevant cost is the assessee's actual original cost. Case-Laws Income Tax Wed, 27 Apr 1932 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283401