2001 (1) TMI 63 - HC - Income Tax

Summary

The High Court of Delhi ruled in favor of the assessee, allowing depreciation on the project report as it was considered part of "plant" under section 43(3) of the Income-tax Act, 1961. The court referenced the case of Scientific Engineering House P. Ltd. v. CIT [1986] 157 ITR 86 to support its decision.