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2009 (2) TMI 9 - SUPREME COURT
Meaning of expression "depreciation actually allowed" in S. 43(6)(b) is that "limited to depreciation actually taken into account i.e. debited by the ITO against the incomings of the business in computing the taxable income” - for computing depreciation in cases falling u/r 8 of ITR, the income which is brought to tax as "business income" is only 40 % of the composite income & consequently proportionate depreciation should be taken into account because that is the depreciation "actually allowed"