https://www.taxtmi.com/caselaws?id=463290 HC held the Commissioner validly invoked revisional power under Section 263. The court ruled enhanced depreciation in the 17-month transitional year cannot exceed the asset's actual cost or result in a negative WDV, so the revisional restriction limiting depreciation was sustained. Conversely, the court held the base for the Section 32AB deduction must start with profit as per Schedule VI, so rental and interest included in those accounts cannot be excluded (save for the concession on concessional employee rent). Result: partly allowed-depreciation restriction upheld; Section 32AB relief restored except as conceded. en-us Tue, 06 Nov 2007 00:00:00 +0530 Fri, 22 Aug 2025 11:56:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463290 HC held the Commissioner validly invoked revisional power under Section 263. The court ruled enhanced depreciation in the 17-month transitional year cannot exceed the asset's actual cost or result in a negative WDV, so the revisional restriction limiting depreciation was sustained. Conversely, the court held the base for the Section 32AB deduction must start with profit as per Schedule VI, so rental and interest included in those accounts cannot be excluded (save for the concession on concessional employee rent). Result: partly allowed-depreciation restriction upheld; Section 32AB relief restored except as conceded. Case-Laws Income Tax Tue, 06 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463290