Court Rules Depreciation on Tools Must Follow Standard 10% Rate, Rejects Assessee's Expert-Determined Rate Claim.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Depreciation on loose tools - jigs and fixtures - change in the accounting policy without any reason - The rate of deprecation could not be claimed as fixed by the assessee's expert. It could be claimed only at the prescribed rate, i.e. at the general rate of 10%. - AT....