2008 (2) TMI 10

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..... in respect of block of assets", Matter is remanded - 1183 of 2008 - - - Dated:- 8-2-2008 - JUDGMENT PER : KAPADIA, J. Delay condoned. 2. Leave granted. 3. In this civil appeal filed by the Department two questions of law arise for determination which questions are as follow: "(1) Whether interest paid in respect of borrowings on capital assets not put to use in the concerned fina .....

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..... ction 34(1) of the Income-tax Act, 1961 (for short, "1961 Act") has been omitted w.e.f. 1.4.88. Therefore, we are remanding the matter to the High Court after setting aside the impugned order of the High Court on this question, with the direction to the High Court to consider : whether the assessee has an option in law to claim partial depreciation in respect of block of assets. In the case of .....

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