1991 (1) TMI 24 - HC - Income Tax

Summary

The High Court of Karnataka ruled in favor of allowing depreciation on roads and culverts and treating technical know-how payment as a revenue expenditure. The decision was based on a previous court ruling in Income-tax Reference Case No. 138 of 1986 (CIT v. NGEF Ltd. [1992] 195 ITR 360 (Kar)).