https://www.taxtmi.com/caselaws?id=395341 Delay of 368 days in filing the Tribunal appeal was condoned because the explanation of misplaced papers was accepted, no advantage from late filing was shown, and the appeal raised an arguable case on merits. On depreciation, section 43(6)(c) was applied to the block of assets concept, and only the moneys payable on sale of the asset were required to be reduced from the block's written down value. The reduction could not extend to the entire written down value of the individual sold asset. Depreciation was therefore allowable on the balance block value. en-us Wed, 11 Mar 2020 00:00:00 +0530 Mon, 30 Nov 2020 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395341 Delay of 368 days in filing the Tribunal appeal was condoned because the explanation of misplaced papers was accepted, no advantage from late filing was shown, and the appeal raised an arguable case on merits. On depreciation, section 43(6)(c) was applied to the block of assets concept, and only the moneys payable on sale of the asset were required to be reduced from the block's written down value. The reduction could not extend to the entire written down value of the individual sold asset. Depreciation was therefore allowable on the balance block value. Case-Laws Income Tax Wed, 11 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395341