1988 (11) TMI 10 - HC - Income Tax

Actual Cost, Depreciation, Developement Rebate, New Industrial Undertaking, Special Deduction

Summary

The Bombay High Court held that the expenditure incurred by the assessee-company during the pre-production period formed part of the actual cost of plant and machinery for depreciation allowance and development rebate. The court ruled in favor of the assessee on both parts of the question raised by the Department.