https://www.taxtmi.com/caselaws?id=11121 Pre-operative expenses for depreciation purposes under section 32 of the Income-tax Act, 1961 raised a referable question of law because the Tribunal's direction to capitalise those expenses involved a legal issue fit for reference under section 256(2). The Rajasthan HC held that reliance on Challapalli Sugars Ltd. v. CIT was misplaced, as that decision was confined to the concept of actual cost and did not finally resolve the present controversy. On that basis, the Court concluded that the Tribunal was wrong to reject the request for reference and that the application was maintainable. en-us Mon, 11 Feb 2002 00:00:00 +0530 Fri, 31 Jul 2009 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11121 Pre-operative expenses for depreciation purposes under section 32 of the Income-tax Act, 1961 raised a referable question of law because the Tribunal's direction to capitalise those expenses involved a legal issue fit for reference under section 256(2). The Rajasthan HC held that reliance on Challapalli Sugars Ltd. v. CIT was misplaced, as that decision was confined to the concept of actual cost and did not finally resolve the present controversy. On that basis, the Court concluded that the Tribunal was wrong to reject the request for reference and that the application was maintainable. Case-Laws Income Tax Mon, 11 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11121