TMI Blog1933 (7) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... assessees and if so how is it to be ascertained? The facts are fully set out in the reference, and need not be repeated. Section 10(2)(vi), Income-Tax Act (XI of 1922) runs as follows: (vi) in respect of depreciation of such buildings, machinery, plant, or furniture being the property of the assessee, a sum equivalent to such percentage on the original cost thereof to the assessee as may ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sive assessees who had been owners of the property is the original cost to be traced back? In my opinion the assessee in S. 10(2)(vi) means the assessee as defined in the Act. In Massey Co. v. Commissioner of Income-Tax, Madras the Madras High Court held that the calculation for depreciation must be based on the original cost to the predecessor in title of the assessee. In the statement pres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epreciation of buildings, machinery, plant, or furniture belonging to the assessee merely because the assessee had acquired title to the property by bequest and not by purchase. It may be that it is causes omissus and there would be force in such a contention. In my opinion, however, the intention of the Legislature in using the words the original cost thereof to the assessee, was that the own ..... X X X X Extracts X X X X X X X X Extracts X X X X
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