1974 (10) TMI 3 - SC - Income Tax

Whether the interest payment represents an element on the actual cost of the machinery, plant, etc., to the assessee and as such depreciation and development rebate are admissible with reference to this amount also - assessee is entitled to depreciation and development rebate with reference to such interest also - benefit of section 5 of the amending Act would be available only in respect of wealth-tax paid and not merely payable