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of <h1>High Court allows depreciation on technical know-how as plant under Income-tax Act. First question not addressed. No costs.</h1> <h3>Commissioner Of Income-Tax Versus Toshniwal Electrodes Manufacturing Co.</h3> The Bombay High Court ruled in favor of the assessee, allowing depreciation on technical know-how as plant under the Income-tax Act. The court did not ... Depreciation, Plant The High Court of Bombay delivered a judgment regarding technical know-how fees paid to foreign collaborators. The court ruled in favor of the assessee, allowing depreciation on the technical know-how as plant under the Income-tax Act. The first question was not answered as it was not pressed by the counsel. No costs were awarded. (Case citation: 1988 (12) TMI 27 - BOMBAY High Court)
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