1992 (3) TMI 37 - HC - Income Tax

Summary

The High Court of Gujarat ruled in favor of the assessee, allowing 100% depreciation for earthen work, salt pans, reservoirs, and roads, regardless of their age. The court referred to a previous case to support its decision. The Income-tax Officer's denial of the depreciation claim was deemed incorrect. The assessee was entitled to 100% depreciation, with a deduction for any depreciation previously allowed. The court's decision was against the Revenue and in favor of the assessee.