1988 (11) TMI 93 - HC - Income Tax

Summary

The High Court of Bombay ruled that the capital expenditure incurred by the assessee-company on plant acquisitions qualifies for depreciation under the Income-tax Act. The decision is based on the precedent set by the Supreme Court in the case of Scientific Engineering House Pvt. Ltd. v. CIT [1986] 157 ITR 86. The court ruled in favor of the assessee.