1991 (3) TMI 120 - HC - Income Tax

Depreciation On Scientific Research Assets, Provisions Relating To Scientific Research, Scientific Research

Summary

The High Court of Bombay ruled in favor of the assessee in a departmental reference case regarding depreciation allowance for a research laboratory. The court held that the retrospective amendment of section 35 was invalid, following a previous judgment. The question of law could not be considered by the income-tax authorities or the Income-tax Appellate Tribunal. The court answered the question in favor of the assessee with no order as to costs.