2024 (7) TMI 850

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..... cessor and the successor in the case of succession - As decided by HC [ 2023 (6) TMI 823 - BOMBAY HIGH COURT] assessee as per Section 32 r/w Rule 5 of the Act quoted above, will be entitled to claim depreciation in respect of any assets on the actual cost of the said assets. The actual cost of the said assets will be the actual cost which the assessee paid to the predecessor after revaluing the as .....

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