1986 (3) TMI 336 - HC - Income Tax

Summary

The High Court dismissed a petition under the IT Act, 1961, related to the assessment year 1976-77 of the respondent-assessee. The court held that an air-conditioning plant in a bus is an integral part of the bus and depreciation should be at the rate applicable to the bus. The court declined the reference of the CIT as no question of law arises. No costs were awarded.