https://www.taxtmi.com/caselaws?id=29401 The court held in favor of the revenue, ruling that the written down value for computing the capital employed under section 84 should include the initial depreciation allowed under section 32(1)(iv). The court rejected the assessee's argument that the initial depreciation should be excluded, emphasizing that all types of depreciation actually allowed should be included in the written down value. The court found previous decisions cited by the assessee unpersuasive and ordered the assessee to pay the costs of the reference to the revenue. en-us Fri, 04 Sep 1981 00:00:00 +0530 Fri, 12 Mar 2010 15:48:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29401 The court held in favor of the revenue, ruling that the written down value for computing the capital employed under section 84 should include the initial depreciation allowed under section 32(1)(iv). The court rejected the assessee's argument that the initial depreciation should be excluded, emphasizing that all types of depreciation actually allowed should be included in the written down value. The court found previous decisions cited by the assessee unpersuasive and ordered the assessee to pay the costs of the reference to the revenue. Case-Laws Income Tax Fri, 04 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29401