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1965 (4) TMI 15 - SC - Income TaxWhether the depreciation allowance should be computed in respect of the 10/16th share in the factory on the basis of the original cost to the larger joint family or on the basis of the valuation at which the assessee took over the factory? Held that:- Depreciation allowance should be computed on the basis of the valuation at which the assessee took over the assets. Appeal allowed.
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