Assessing Officer to Calculate Written Down Value at 35% of Asset Cost for Depreciation Exclusion Under AIT Act.

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....Depreciation allowability - determination of WDV - AO is directed to employ the deeming provision for computing the written down value de hors the depreciation granted under the AIT Act and take 35% of the cost of the total assets as written down value, allowing the depreciation for the relevant assessment year to that extent. - HC....