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2018 (5) TMI 1685 - AT - Income TaxDepreciation at higher rate on rolls @ 80% - calculation of WDV - CIT(A) accepted the claim of depreciation on pro-rate basis - taking the written down value appearing in the depreciation schedule prepared for the purpose of Companies Act. - Held that:- CIT(A) is not justified to accept the written down value of rolls determined by the assessee on proportionate basis, in view of the provision of sub-section (6) of section 43. As per section 43(6)(b), the WDV in case of assets acquired before the previous year is defined to mean the actual cost of the asset less all depreciation actually allowed to him - thus WDV is required to be determined as per section 43(6)(b) - matter is restored to the file of AO for fresh adjudication giving the assessee an opportunity to determine the opening W.D.V. of rolls in accordance with section 43(6)(b) - Decided in favour of revenue for statistical purpose.
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