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<h1>High Court rules air-conditioning plant in bus is part of bus for depreciation under IT Act</h1> The High Court dismissed a petition under the IT Act, 1961, related to the assessment year 1976-77. It held that an air-conditioning plant in a bus is an ... - The High Court dismissed a petition under the IT Act, 1961, related to the assessment year 1976-77 of the respondent-assessee. The court held that an air-conditioning plant in a bus is an integral part of the bus and depreciation should be at the rate applicable to the bus. The court declined the reference of the CIT as no question of law arises. No costs were awarded.