1985 (9) TMI 68 - HC - Income Tax

Summary

The Bombay High Court addressed four questions in the judgment:
1. Depreciation should be allowed on original cost as on January 1, 1949.
2. Provisions of Taxation Laws Order, 1950, could not be invoked.
3. Provisions of Taxation Laws Order, 1950, do not apply.
4. Legality of Taxation Laws Order, 1950, was not addressed as the assessee did not desire an answer.
Costs were not awarded for the reference.