https://www.taxtmi.com/caselaws?id=289459 For computing written down value under the second proviso to section 10(2)(vii), initial depreciation that had in fact been allowed under the Act is to be deducted as part of the depreciation actually allowed. The exclusion of initial depreciation from written down value operates only for the allowance under section 10(2)(vi) and does not control the sale-profit computation under section 10(2)(vii). On that construction, the written down value must reflect all depreciation allowed under the Act, including initial depreciation, and the issue was answered against the assessee. en-us Mon, 09 Jul 1962 00:00:00 +0530 Fri, 31 Jul 2020 12:25:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289459 For computing written down value under the second proviso to section 10(2)(vii), initial depreciation that had in fact been allowed under the Act is to be deducted as part of the depreciation actually allowed. The exclusion of initial depreciation from written down value operates only for the allowance under section 10(2)(vi) and does not control the sale-profit computation under section 10(2)(vii). On that construction, the written down value must reflect all depreciation allowed under the Act, including initial depreciation, and the issue was answered against the assessee. Case-Laws Income Tax Mon, 09 Jul 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289459