https://www.taxtmi.com/caselaws?id=25946 Depreciation on agricultural implements was held to be allowable on the original cost of the assets rather than on the reduced written-down value. Expenses on guest houses, trucks and cars were deductible except to the extent already attributable to personal expenditure, which remained disallowed. The statutory previous year for assessment governed, so the assessment period ended on 31 March and not the assessee's accounting year ending on 30 June. Litigation expenses incurred to resist land ceiling proceedings were treated as revenue expenditure because they were incurred to preserve an existing capital asset, and were therefore deductible. en-us Thu, 20 Mar 1986 00:00:00 +0530 Mon, 01 Feb 2010 17:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25946 Depreciation on agricultural implements was held to be allowable on the original cost of the assets rather than on the reduced written-down value. Expenses on guest houses, trucks and cars were deductible except to the extent already attributable to personal expenditure, which remained disallowed. The statutory previous year for assessment governed, so the assessment period ended on 31 March and not the assessee's accounting year ending on 30 June. Litigation expenses incurred to resist land ceiling proceedings were treated as revenue expenditure because they were incurred to preserve an existing capital asset, and were therefore deductible. Case-Laws Income Tax Thu, 20 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25946