https://www.taxtmi.com/caselaws?id=49240 The Supreme Court upheld the High Court's interpretation that "depreciation actually allowed" refers to the depreciation deducted in arriving at taxable income under the Taxation Laws (Part B States) (Removal of Difficulties) Order, 1950. It clarified that only the proportionate amount of depreciation relevant to income taxable in India should be considered in computing the written down value of assets. Despite a separate judgment emphasizing considering the entire depreciation, the Court dismissed the appeals, affirming the High Court's stance on depreciation allowances. 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 Supreme Court upheld the High Court's interpretation that "depreciation actually allowed" refers to the depreciation deducted in arriving at taxable income under the Taxation Laws (Part B States) (Removal of Difficulties) Order, 1950. It clarified that only the proportionate amount of depreciation relevant to income taxable in India should be considered in computing the written down value of assets. Despite a separate judgment emphasizing considering the entire depreciation, the Court dismissed the appeals, affirming the High Court's stance on depreciation allowances. Case-Laws Income Tax Tue, 07 Dec 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49240