https://www.taxtmi.com/caselaws?id=28471 The High Court ruled that the forfeited amount of Rs. 1,50,000 could not be included in the actual cost of machinery for depreciation calculation. The Court determined that the bond forfeiture occurred after the machinery was operational and therefore the payment was not part of the machinery's cost. The Court analyzed relevant legal provisions and precedents, ultimately deciding against the assessee on the matter. en-us Mon, 28 Jun 1982 00:00:00 +0530 Mon, 22 Feb 2010 18:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28471 The High Court ruled that the forfeited amount of Rs. 1,50,000 could not be included in the actual cost of machinery for depreciation calculation. The Court determined that the bond forfeiture occurred after the machinery was operational and therefore the payment was not part of the machinery's cost. The Court analyzed relevant legal provisions and precedents, ultimately deciding against the assessee on the matter. Case-Laws Income Tax Mon, 28 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28471