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1973 (9) TMI 5 - HC - Income TaxDepreciation and Development Rebate - Whether interest paid on money borrowed for the purchase of land and machinery, foreign tour expenses prior to setting up of factory and payment to foreign collaborator as indemnity form part of actual cost for the purpose of depreciation and development rebate - We, agree with the Tribunal that the said sum cannot be taken to be a part of the cost of the machinery and that the assessee is not entitled to depreciation and development rebate thereon
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