https://www.taxtmi.com/caselaws?id=60796 The Tribunal allowed the appeal, directing the ITO to recompute the assessee's claim of depreciation based on the actual cost of the assets, deducting the depreciation allowed in previous years. The Tribunal emphasized that the revaluation was genuine, and the actual cost should be considered for depreciation purposes. The appeal was allowed, and the ITO was instructed to allow depreciation on the balance after deducting previously allowed depreciation. en-us Fri, 30 Jul 1982 00:00:00 +0530 Sat, 08 Jan 2011 11:16:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60796 The Tribunal allowed the appeal, directing the ITO to recompute the assessee's claim of depreciation based on the actual cost of the assets, deducting the depreciation allowed in previous years. The Tribunal emphasized that the revaluation was genuine, and the actual cost should be considered for depreciation purposes. The appeal was allowed, and the ITO was instructed to allow depreciation on the balance after deducting previously allowed depreciation. Case-Laws Income Tax Fri, 30 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60796