The assessee, being the amalgamated company, claimed depreciation by adopting the correct written down value of the block of assets vested pursuant to amalgamation. The Tribunal denied the claim holding that without Central Government approval under S. 72A, adjustment of WDV and depreciation could not be allowed. The High Court held that S. 72A applies only where the assessee seeks carry forward and set off of accumulated loss and unabsorbed depreciation of the amalgamating company, which was not the case here. Since the assessee only sought adoption of correct WDV under S. 43(6), the Tribunal erred in insisting on approval under S. 72A. The CIT(A) was justified in holding that unabsorbed depreciation of amalgamating companies should be added to the WDV of the block of assets of the amalgamated company for allowing depreciation.(AY. 1992-93)