https://www.taxtmi.com/caselaws?id=20777 Depreciation on building and plant used for business research was disallowed because, under the controlling Supreme Court interpretation applicable before amendment, depreciation could not be claimed on the portion of a scientific research asset's cost already written off. Borrowed moneys, debts and liabilities were required to be excluded when computing capital employed for relief under section 80I, so the assessee's wider computation was rejected. The reference was therefore resolved by applying binding Supreme Court authority: the assessee failed on the depreciation issue, while the Revenue succeeded on exclusion of debts and liabilities from capital employed. en-us Fri, 29 Jan 1993 00:00:00 +0530 Tue, 17 Nov 2009 11:42:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20777 Depreciation on building and plant used for business research was disallowed because, under the controlling Supreme Court interpretation applicable before amendment, depreciation could not be claimed on the portion of a scientific research asset's cost already written off. Borrowed moneys, debts and liabilities were required to be excluded when computing capital employed for relief under section 80I, so the assessee's wider computation was rejected. The reference was therefore resolved by applying binding Supreme Court authority: the assessee failed on the depreciation issue, while the Revenue succeeded on exclusion of debts and liabilities from capital employed. Case-Laws Income Tax Fri, 29 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20777