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1991 (11) TMI 99 - ITAT BANGALOREExtract: .......field to conclude that when the assets of the firm are taken over by one of the partners at the time of dissolution, there is no transfer. Consequently, Expln. 3 to s. 43(1) is inapplicable. The assessee is entitled to claim depreciation on the revaluated figure. We accordingly hold on the ground in favour of the assessee. 13.The appeal is allowed.
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