1998 (6) TMI 28 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee regarding the claim for extra depreciation allowance for the assessment year 1982-83. The court held that the withdrawal of development rebate did not affect the availability of extra depreciation allowance. The assessee, a hotel with five-star facilities, had approval from the Department of Tourism under section 33 of the Income-tax Act, making the allowance claim valid. The court awarded costs of Rs. 750 to the assessee.