https://www.taxtmi.com/caselaws?id=21848 Depreciation under section 32 was treated as allowable on assets whose full cost had already been deducted in earlier years under section 35(1)(iv) and section 35(2)(ia), with computation made on the actual cost basis without applying Explanation 1 to section 43(1). The Court also treated the assessee as engaged in manufacture for section 80-1 purposes because it directly participated in the manufacturing process through canvassing orders, preparing designs, placing manufacture orders, supervising production, controlling quality, and assuming responsibility for performance, even though another concern physically produced the machinery under contract. en-us Wed, 24 Apr 1991 00:00:00 +0530 Mon, 08 Dec 2025 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21848 Depreciation under section 32 was treated as allowable on assets whose full cost had already been deducted in earlier years under section 35(1)(iv) and section 35(2)(ia), with computation made on the actual cost basis without applying Explanation 1 to section 43(1). The Court also treated the assessee as engaged in manufacture for section 80-1 purposes because it directly participated in the manufacturing process through canvassing orders, preparing designs, placing manufacture orders, supervising production, controlling quality, and assuming responsibility for performance, even though another concern physically produced the machinery under contract. Case-Laws Income Tax Wed, 24 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21848