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Income Tax

Depreciation on the purchase value of abkari licence -...

Court Denies 25% Depreciation Claim on Abkari License; Use Written Down Value, Not Purchase Cost.

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Income TaxJune 17, 2012Case LawsHC

Depreciation on the purchase value of abkari licence - assessee's claim for depreciation at 25% of the actual cost is not allowable because depreciation has to be allowed only on written down value. - HC

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