1992 (6) TMI 11 - HC - Income Tax

Summary

The High Court of Karnataka considered three questions under section 256(1) of the Income-tax Act, 1961 for the assessment year 1982-83. The court held that the Appellate Tribunal was right in its decisions regarding depreciation on roads, drains, and culverts, and subsidiary amount for determining depreciation and investment allowance. The first question was answered in the affirmative against the Revenue based on the above decisions. The reference was answered accordingly.