9911796707
TMI BlogWritten down valueX X X X Extracts X X X X X X X X Extracts X X X X ..... ost to the assessee less all depreciation actually allowed to him under this Act, or under the Indian Income-tax Act, 1922, or any Act repealed by that Act, or under any executive orders issued when the Indian Income-tax Act, 1886, was in force: Provided that in determining the written down value in respect of buildings, machinery or plant for the purposes of clause (ii) of sub-section (1) of se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n respect of any asset falling within that block, which is sold or discarded or demolished or destroyed during that previous year together with the amount of the scrap value, if any, so, however, that the amount of such reduction does not exceed the written down value as so increased; and (C) in the case of a slump sale, decrease by the actual cost of the asset falling within that block as reduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ced by the depreciation actually allowed in respect of that block of assets in relation to the said preceding previous year and as further adjusted by,- (A) the increase or the reduction referred to in item (i), not being increase on account of acquisition of goodwill of a business or profession; (B) the reduction by an amount which is equal to the actual cost of the goodwill falling within th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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