1988 (12) TMI 71 - HC - Income Tax

Summary

The High Court of Bombay ruled in favor of the assessee on two questions regarding depreciation and development rebate, as well as computation under section 80J(3). The court referred to previous judgments and ultimately sided with the assessee based on the provisions of section 84 and section 80J, as well as rule 19 and rule 19A. The second question was answered in favor of the assessee.