The All India Reporter 1934 - Rangoon High Court Reported in (1) I.L.R. 12 Rangoon (2) 35 Criminal Law Journal (3) 21 All India Criminal Reports (4) 147 to 152 Indian Cases (5) 1934 Criminal Cases with Extra Judgments Citationl: A.I.R. 1934 Rangoon

54—Plaintiff giving notice to de- fendant of diminution of light and air likely to be caused to him by erection of defendants’s buildings before comple- tion of building—Simply because plain- tiff waits till completion of building and sues for injunction injunction is not to be disallowed on ground of delay if he is otherwise entitled to it 144a ——S. [...] Held: that the sum was not a trading loss out was only the estimated depreciation of the value of the assets of the firm based upon a re- valuation of such assets made for the purpose and on the occasion of the reconstitution of the firm. [...] Now at the time when the firm was reconstituted a valuation of the assets of the business had been made but as was pointed out by the assessees in a note to the Assistant Commissioner of Income-tax explaining the grounds of the appeal to him from the income-tax officer this was only a valuation of the stock and property forming the assets of the old firm. [...] It does not purport to be any_ t ing of the sort, and the valuation upon hich it is based was not made for the urpose of ascertaining the . trading loss of the business during the accounting ar, but fer the purpose of obtaining a revaluation of the assets of the business aving regard to the impending change in t e constitution of the firm. [...] n my opinion this sum of Rupees 4,561, in the circumstances disclosed in he present case, was not a trading loss hich accrued during the accounting ear, but was the estimated depreciation n the value of the assets of the firm ased upon a revaluation of such assets made for the purpose, and on the occa- sion, of the reconstitution of the firm.