2001 (3) TMI 29 - HC - Income Tax

Summary

The High Court of Kerala ruled on a case involving the allowance of depreciation on furniture for a hospital. The court decided that the hospital was not a welfare center and therefore entitled to depreciation at 10 per cent. The Commissioner of Income-tax (Appeals) was justified in canceling the lower rate of depreciation allowed by the Assessing Officer. The Tribunal's decision was upheld, and the income-tax references were disposed of accordingly.