1979 (8) TMI 6

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..... r s. 256(1) of the I.T. Act, 1961, made by the Income-tax Appellate Tribunal and referred the following questions of law to this court : " 1. Whether the expenses of Rs. 71,312 incurred on foreign tours of Shri Bharat Ram and some of the officers of the assessee-company represents an, element of actual cost of machinery, plant, etc., to the assessee and such depreciation and development rebate .....

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..... re which could be reasonably related to the assets comprised in the tyre cord factory should be included in the actual cost of those assets for the purpose of granting development rebate and depreciation. The other item of Rs. 45,087 was disallowed by the ITO but the Tribunal allowed this item to be included in the actual cost for the purpose of depreciation and allowed the amount in the capita .....

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