https://www.taxtmi.com/caselaws?id=49419 Depreciation for computing written down value was treated as a statutory notional allowance where the relevant provision referred to depreciation that "would have been allowed" under an earlier income-tax law, so the absence of an actual claim did not prevent reduction of written down value. The same computation principle was applied where depreciation had already been availed of under the Bhavnagar War Profits Act: paragraph 2 of the Removal of Difficulties Order was read as operating according to its terms, and that enactment fell within the expression covering laws relating to tax on business profits. In both settings, the Revenue's method of computation was upheld. en-us Wed, 23 Oct 1963 00:00:00 +0530 Mon, 25 Aug 2014 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49419 Depreciation for computing written down value was treated as a statutory notional allowance where the relevant provision referred to depreciation that "would have been allowed" under an earlier income-tax law, so the absence of an actual claim did not prevent reduction of written down value. The same computation principle was applied where depreciation had already been availed of under the Bhavnagar War Profits Act: paragraph 2 of the Removal of Difficulties Order was read as operating according to its terms, and that enactment fell within the expression covering laws relating to tax on business profits. In both settings, the Revenue's method of computation was upheld. Case-Laws Income Tax Wed, 23 Oct 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49419