1. In any case, the Sixth Directive does not lay down the basis upon which the allowance for depreciation of the asset must be calculated.

2. It is borne out by facts that neither a full allowance for depreciation was made , nor were sound reserves build up even during the prosperous years .

3. The Iron and Steel ( major ) Panel , 1946 , suggested that the steel prices , instead of being related to prices of imported steel , should be based on internal cost of production , including a liberal allowance for depreciation , and an adequate return on investment to enable the industry to be efficient and to attract sufficient capital for expansion .