1991 (4) TMI 18 - HC - Income Tax

Summary

The High Court of Allahabad delivered a judgment on a case involving the Income-tax Act, 1961. The court considered questions related to relief under section 80J and depreciation rates for an assessee-company engaged in manufacturing artificial silk. The court referred to a previous case and ruled in favor of the assessee, agreeing with the decision in the earlier case. The court answered both questions in favor of the assessee and against the department. No costs were awarded. (Case Citation: 1991 (4) TMI 18 - Allahabad High Court)