https://www.taxtmi.com/caselaws?id=27480 Written down value for capital gains on transfer of a banking undertaking was held to be based on depreciation actually allowed under the Act, so the 31 December 1968 figure, not a later notional reduction for depreciation up to 18 July 1969, was the proper basis. On that footing, the reassessment enhancing capital gains on the assumption of unallowed depreciation could not stand. Depreciation on Malaysian assets was upheld on a proportionate basis because the assets were used for business, and the absence of item-wise particulars did not justify withdrawal of an allowance already granted on that basis. en-us Wed, 13 Oct 1982 00:00:00 +0530 Sat, 13 Feb 2010 11:11:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27480 Written down value for capital gains on transfer of a banking undertaking was held to be based on depreciation actually allowed under the Act, so the 31 December 1968 figure, not a later notional reduction for depreciation up to 18 July 1969, was the proper basis. On that footing, the reassessment enhancing capital gains on the assumption of unallowed depreciation could not stand. Depreciation on Malaysian assets was upheld on a proportionate basis because the assets were used for business, and the absence of item-wise particulars did not justify withdrawal of an allowance already granted on that basis. Case-Laws Income Tax Wed, 13 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27480