https://www.taxtmi.com/caselaws?id=11176 The High Court ruled in favor of the Revenue, holding that interest payable after the asset is first put to use cannot be included in the actual cost of the asset for depreciation and investment allowance. Additionally, the court determined that diesel generator sets do not qualify for higher depreciation rates under item No. 10A of the Income-tax Rules, 1962, and allowed depreciation at the normal rate of 10%. en-us Thu, 12 Feb 2004 00:00:00 +0530 Sat, 01 Aug 2009 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11176 The High Court ruled in favor of the Revenue, holding that interest payable after the asset is first put to use cannot be included in the actual cost of the asset for depreciation and investment allowance. Additionally, the court determined that diesel generator sets do not qualify for higher depreciation rates under item No. 10A of the Income-tax Rules, 1962, and allowed depreciation at the normal rate of 10%. Case-Laws Income Tax Thu, 12 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11176