2001 (5) TMI 951 - HC - Income Tax

Summary

The High Court of Delhi reviewed a case involving the grant of depreciation on amounts affected by foreign currency fluctuations for the assessment year 1989-90. The Court directed the Commissioner of Income-tax (Appeals) to reconsider the matter in light of relevant legal principles, specifically referring to a decision in the case of CIT vs. Arvind Mills Ltd. The Court emphasized the need for the CIT(A) to consider all applicable decisions before making a final determination.