1990 (8) TMI 42 - HC - Income Tax

Summary

The High Court of Gauhati addressed a case involving depreciation on concrete poles and molds used for their manufacture. The court ruled in favor of the Revenue, allowing depreciation at 10% for the assessment years 1977-83. The court concluded that the molds did not fall under specific clauses in the Income-tax Act for higher depreciation rates. The decision was supported by a reference to Appendix 1, Part 1, Table, and previous court rulings. The judgment was agreed upon by both judges.