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1970 (12) TMI 3 - HC - Income TaxExtract: .......had to be accepted at the figure of the cost price (Rs. 30,000). Our answer to the question referred to the court is, therefore, that depreciation on the motor truck had to be calculated on Rs. 30,000. The question is answered in favour of the assessee. The Commissioner of Income-tax, U.P., shall pay the assessee Rs. 200 as costs of this reference.
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