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2015 (1) TMI 480 - BOMBAY HIGH COURTDouble deduction - Depreciation on the assets costs of which have already been allowed as deduction on account of application of income, would amount to double deduction? - Held that:- The amount spent on acquiring the assets has been treated as application of income in the year in which the income was spent in acquiring these assets. This does not mean that in subsequent years, depreciation in respect of those assets cannot be taken into account. The present Appeal does not raise any substantial question of law. It is accordingly dismissed.
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