TMI Blog1985 (9) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. The said question runs as follows, " Whether, the Tribunal was right in allowing for the assessment year 1971-72, the assessee's claim for depreciation under section 32 of the Income-tax Act, 1961, in respect of plant and machinery of Rs. 33,781 continued to be used for scientific research notwithstanding the deduction allowed to the assessee in respect of such capital expenditure under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 35 of the said Act. The submission of Mr. Jetly, learned counsel for the Revenue, is that in view of the retrospective amendment to clause (iv) of sub-section (2) of section 35 of the Income-tax Act, 1961, the depreciation claimed by the assessee could not have been allowed. It appears that the submission of Mr. Jetly is well-founded. The plain language of the said clause which has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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