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1983 (1) TMI 144 - ITAT HYDERABAD-AExtract: .......ng assessments, in our opinion, it clearly indicates that it will apply for the assessment year itself as otherwise it will have no meaning. We are, therefore, of the view that the assessee s claim has to be allowed and it is accordingly allowed. The ITO is directed to rework the depreciation at 40 per cent. 4. In the result, the appeal is allowed.
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