https://www.taxtmi.com/caselaws?id=22558 Depreciation was denied on the cost of drawings, specifications and technical data because they did not qualify as "plant" under the Income-tax Act, following the earlier view in the assessee's own case. Development rebate for the relevant assessment years was allowed to be carried forward despite the absence of a prescribed reserve, because a retrospective amendment by the Finance Act, 1990 governed the answer to the reference. The matter thus applied the amended statutory position for the rebate issue while leaving the depreciation issue against the assessee. en-us Wed, 19 Sep 1990 00:00:00 +0530 Fri, 11 Dec 2009 11:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22558 Depreciation was denied on the cost of drawings, specifications and technical data because they did not qualify as "plant" under the Income-tax Act, following the earlier view in the assessee's own case. Development rebate for the relevant assessment years was allowed to be carried forward despite the absence of a prescribed reserve, because a retrospective amendment by the Finance Act, 1990 governed the answer to the reference. The matter thus applied the amended statutory position for the rebate issue while leaving the depreciation issue against the assessee. Case-Laws Income Tax Wed, 19 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22558