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scope for making any further deduction.
Generally speaking depreciation is an allowance for the diminution
in the value ... business. Black's Law Dictionary (5th Edn.) defines
depreciation to mean, inter alia:
"A fall in value; reduction of worth
Supreme Court of India
Supreme Court of India
Unichem Laboratories Ltd vs The Workmen on 24 February, 1972 Equivalent
Supreme Court of India
legal ownership can also entitle an
assessee to claim depreciation under Section 32? The learned senior
counsel for the Revenue ... business. Black's Law Dictionary (Fifth Edn.) defines
depreciation to mean, inter alia:
A fall in value; reduction of worth
Supreme Court of India
from these two
expressions. Kohler in Dictionary for Accountants defines depreciation
as the diminution of service-yield from a fixed ... value
of assets due to use or obiolescencc. Batliboi defines depreciation as
loss or diminution in the value
Delhi High Court
Income Tax Appellate Tribunal - Pune
Sanghvi Movers P. Ltd. vs Dy. C.I.T. Special
Income Tax Appellate Tribunal - Pune
Industrial
Undertakings) Rules, 1949. In those Rules "depreciation" is defined in
rule 2 (iv) to mean the allowance admissible under ... said period". Though
the Rules purport to defined "depreciation" and "written-down value",
they do not carry the definition much
Bombay High Court
spoke of
"assets.....entitled to depreciation" and then observed that if they
had been acquired before the computation period ... said
period". Though the Rules purported to define "depreciation" and
"written down value", these did not actually carry the definition
Calcutta High Court
written down value was defined to mean only the actual
cost less depreciation actually allowed in the earlier years ... written down value which has been defined as the actual cost less
depreciation actually allowed
Income Tax Appellate Tribunal - Madras
from these
two expressions. Kohler in Dictionary for Accountants defines
depreciation as the diminution of service-yield from a fixed ... value of assets due to use or obsolescence. Batliboi
defines depreciation as loss or diminution in the value
Delhi High Court
fraction of total profits-and depreciation there is
no definable relation. Therefore it is wrong to presume
that the depreciation ... into account. The Explanation to the section
defines the expression "all depreciation actually allowed
under any laws or rules
Supreme Court of India
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