https://www.taxtmi.com/caselaws?id=28443 The High Court of Madhya Pradesh ruled in favor of the assessee in a case involving the interpretation of depreciation under the Income-tax Act, 1961, and the application of section 41(2) regarding profit on the sale of a truck. The court held that for section 41(2) to apply, the Department must prove that depreciation was allowed in previous years for the asset being sold. As the Department failed to establish this, the court decided in favor of the assessee on both issues, emphasizing the Department's burden of proof. The judgment concluded without costs for the reference. en-us Wed, 22 Jun 1983 00:00:00 +0530 Mon, 22 Feb 2010 16:56:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28443 The High Court of Madhya Pradesh ruled in favor of the assessee in a case involving the interpretation of depreciation under the Income-tax Act, 1961, and the application of section 41(2) regarding profit on the sale of a truck. The court held that for section 41(2) to apply, the Department must prove that depreciation was allowed in previous years for the asset being sold. As the Department failed to establish this, the court decided in favor of the assessee on both issues, emphasizing the Department's burden of proof. The judgment concluded without costs for the reference. Case-Laws Income Tax Wed, 22 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28443