1991 (2) TMI 90 - HC - Income Tax

Summary

The High Court of Bombay delivered a judgment in a departmental reference case related to the assessment of an assessee company for the year 1972-73. The court ruled that the assessee has the option to claim or not claim depreciation, and the Income-tax Officer cannot allow depreciation without the necessary particulars. The decision was based on a previous judgment in favor of the assessee. No costs were awarded.