https://www.taxtmi.com/caselaws?id=28000 A retrospective amendment to section 35(2)(iv) of the Income-tax Act bars depreciation under section 32 where a deduction has already been allowed for expenditure represented wholly or partly by the same asset. The court rejected the earlier view that the restriction applied only to the same year, holding that the amended provision governed the assessment year in question. Accordingly, depreciation was not allowable on assets for which deduction had been granted under section 35(2), and the reference was decided against the assessee. en-us Mon, 01 Aug 1983 00:00:00 +0530 Wed, 17 Feb 2010 13:05:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28000 A retrospective amendment to section 35(2)(iv) of the Income-tax Act bars depreciation under section 32 where a deduction has already been allowed for expenditure represented wholly or partly by the same asset. The court rejected the earlier view that the restriction applied only to the same year, holding that the amended provision governed the assessment year in question. Accordingly, depreciation was not allowable on assets for which deduction had been granted under section 35(2), and the reference was decided against the assessee. Case-Laws Income Tax Mon, 01 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28000