https://www.taxtmi.com/caselaws?id=20877 HC held that rental income from the assessee's let-out factory building was assessable under the head "Income from house property", following its earlier precedent, as the asset had ceased to be exploited as a commercial asset; consequently, depreciation under s.32(1)(ii) was not allowable on that building. However, HC allowed the assessee's claim for increased depreciation on imported machinery under s.43A, holding that the liability to pay the purchase price arose when the assets were acquired, and the enhanced liability due to foreign exchange fluctuation at year-end formed part of the "actual cost" for the relevant assessment year. en-us Wed, 14 Oct 1992 00:00:00 +0530 Wed, 10 Dec 2025 21:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20877 HC held that rental income from the assessee's let-out factory building was assessable under the head "Income from house property", following its earlier precedent, as the asset had ceased to be exploited as a commercial asset; consequently, depreciation under s.32(1)(ii) was not allowable on that building. However, HC allowed the assessee's claim for increased depreciation on imported machinery under s.43A, holding that the liability to pay the purchase price arose when the assets were acquired, and the enhanced liability due to foreign exchange fluctuation at year-end formed part of the "actual cost" for the relevant assessment year. Case-Laws Income Tax Wed, 14 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20877