1997 (11) TMI 2 - SC - Income Tax

Guest House - depreciation - Whether, the Appellate Tribunal is right in law and on facts in directing the Assessing Officer to allow depreciation on guest house building and other assets - it is a question of law - Tribunal shall now draw up a statement of case and refer to the High Court the said question for decision

Summary

The Supreme Court condoned delay, granted special leave, and allowed the appeal regarding the issue of depreciation on guest house building and other assets. The High Court was directed to consider Question No. 4, which raised a legal issue. The Tribunal was instructed to refer this question to the High Court for decision.