https://www.taxtmi.com/caselaws?id=26618 The High Court ruled in favor of the assessee on various issues, such as allowing depreciation on well construction, including capital expenditure on scientific research as an asset, granting relief under section 80J for the entire year, and treating pre-paid expenses as assets. However, the court disagreed on the classification of technical fees as revenue expenditure. The High Court also held that liabilities should not be deducted in the computation of capital employed and that unclaimed dividends and refundable equity issue application moneys could not be considered assets. en-us Fri, 24 Aug 1984 00:00:00 +0530 Sat, 06 Feb 2010 13:25:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26618 The High Court ruled in favor of the assessee on various issues, such as allowing depreciation on well construction, including capital expenditure on scientific research as an asset, granting relief under section 80J for the entire year, and treating pre-paid expenses as assets. However, the court disagreed on the classification of technical fees as revenue expenditure. The High Court also held that liabilities should not be deducted in the computation of capital employed and that unclaimed dividends and refundable equity issue application moneys could not be considered assets. Case-Laws Income Tax Fri, 24 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26618