Sec. 50B– Capital gain in slump sale- while calculating net worth of business, depreciation must be accounted

Brief of the Case Delhi High Court held In the case of CIT vs. Dharampal Satyapal that as per section 50B, the value of the net worth must be computed by decreasing from the actual cost of asset falling within the block, the depreciation actually allowed in respect of previous years relevant to the assessment year commencing before 1st day of April, 1988 and by the amount of depreciation as would have been allowable to the Assessee for any assessment year commencing on or after 1st day of April 1988. The quantum of the depreciation actually allowed to an Assessee in respect of the assessment ...