https://www.taxtmi.com/caselaws?id=37181 For depreciation, the original cost of an asset is a question of fact, and tax authorities may look beyond purchase documents and balance-sheet figures where the stated price appears fictitious, inflated, or unsupported by reliable vouchers or particulars. Documentary recitals are only prima facie evidence, so surrounding circumstances may justify ascertainment of the true cost. On the facts, control by the vendor, unreliable books, missing vouchers, and inability to link expenditure items to acquisition or erection supported scrutiny of the real cost. However, a reduction of the machinery cost merely because vouchers were absent was not justified where the machinery existed in the assessee's possession. en-us Wed, 07 Feb 1979 00:00:00 +0530 Sat, 27 Mar 2010 11:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37181 For depreciation, the original cost of an asset is a question of fact, and tax authorities may look beyond purchase documents and balance-sheet figures where the stated price appears fictitious, inflated, or unsupported by reliable vouchers or particulars. Documentary recitals are only prima facie evidence, so surrounding circumstances may justify ascertainment of the true cost. On the facts, control by the vendor, unreliable books, missing vouchers, and inability to link expenditure items to acquisition or erection supported scrutiny of the real cost. However, a reduction of the machinery cost merely because vouchers were absent was not justified where the machinery existed in the assessee's possession. Case-Laws Income Tax Wed, 07 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37181