https://www.taxtmi.com/caselaws?id=9082 For depreciation and development rebate, the expression "actual cost to the assessee" was treated as the real cost of acquiring the capital asset. Interest on borrowings used specifically to purchase machinery, incurred before the machinery became fit for use, could be capitalised and formed part of actual cost. Foreign travel expenditure connected with acquiring machinery was not automatically capital in nature and required item-wise scrutiny to identify any direct nexus with acquisition. Payments to foreign collaborators for technical know-how, scheme preparation, and consulting services were held to be collaboration and not machinery acquisition cost, so no depreciation or development rebate was allowable on that amount. en-us Sat, 15 Sep 1973 00:00:00 +0530 Fri, 19 Jun 2009 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9082 For depreciation and development rebate, the expression "actual cost to the assessee" was treated as the real cost of acquiring the capital asset. Interest on borrowings used specifically to purchase machinery, incurred before the machinery became fit for use, could be capitalised and formed part of actual cost. Foreign travel expenditure connected with acquiring machinery was not automatically capital in nature and required item-wise scrutiny to identify any direct nexus with acquisition. Payments to foreign collaborators for technical know-how, scheme preparation, and consulting services were held to be collaboration and not machinery acquisition cost, so no depreciation or development rebate was allowable on that amount. Case-Laws Income Tax Sat, 15 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9082