1984 (7) TMI 219

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....nced rate of 40 percent for the asst. yr. 1980-81. The ITO allowed depreciation at 30 per cent with the observation that the enhanced rate of 40 per cent would come into effect only from 24th July, 1980 (inserted by the IT (Fifth Amendment) Rules, 1980, w.e.f 24th July, 1980 (1980) 126 ITR St. 1). Before the AAC in appeal, the assessee claimed that since the assessment was made on 26th March, 1983....