Supreme Court of India
Saharanpur Electric Supply Co. Lid. Etc. Etc. v. Commissioner of Income-tax Etc. Etc.
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What the Court ordered
For the above reasons, we are unable to accept the contention addressed on behalf of the assessee or to draw any support therefor from the observations in Govind Das v. l.T.O., [1976)103 l.T.R. 123 at p. 132; relied upon by counsel.
Judgment, page 21
From the headnote
Income Tax Act, 1961 : Section 43-Depreciation on service lines for Assessment Year 1962-63-Computation of-Written down value-Determi- nation of · Interpretation of Statutes-Retrospective interpretation of a statute- When arises. Under the Indian Income-tax Act, 1922, while computing the income from business, an assessee was entitled to an allowance of depreciation at a percentage of the actual cost to the assessee or the written down value of the relevant asset owned by him, and used for the purposes of business. This Act was replaced by the Income-tax Act, 1961 • Under both the Acts,
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