https://www.taxtmi.com/caselaws?id=49240 The expression "depreciation actually allowed" under the Taxation Laws (Part B States) (Removal of Difficulties) Order, 1950 is explained as depreciation deducted in arriving at taxable income, not the full depreciation used only in computing world income. Read with the proviso and Explanation, the terms "actually allowed", "allowed", and "taken into account" were treated as having the same sense. For non-residents assessed under rule 33, only the proportion of depreciation attributable to Indian taxable income is treated as allowed for written down value purposes, even if the computation first applies full depreciation to world profits. A dissenting view treated the full depreciation as allowed once used in the overall profit computation. en-us Tue, 07 Dec 1965 00:00:00 +0530 Mon, 18 Aug 2014 22:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49240 The expression "depreciation actually allowed" under the Taxation Laws (Part B States) (Removal of Difficulties) Order, 1950 is explained as depreciation deducted in arriving at taxable income, not the full depreciation used only in computing world income. Read with the proviso and Explanation, the terms "actually allowed", "allowed", and "taken into account" were treated as having the same sense. For non-residents assessed under rule 33, only the proportion of depreciation attributable to Indian taxable income is treated as allowed for written down value purposes, even if the computation first applies full depreciation to world profits. A dissenting view treated the full depreciation as allowed once used in the overall profit computation. Case-Laws Income Tax Tue, 07 Dec 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49240