https://www.taxtmi.com/caselaws?id=29394 The court ruled in favor of the assessee on all three questions referred by the Income-tax Appellate Tribunal. It held that the expenditures on the foundation ceremony and inauguration ceremony were part of the actual cost for depreciation allowance under sections 32 and 37 of the Income-tax Act, 1961. Additionally, the interest expenditure on a bank overdraft during construction was also deemed eligible for inclusion in the actual cost. The court directed the Commissioner to bear the costs of the reference. en-us Mon, 31 Aug 1981 00:00:00 +0530 Fri, 12 Mar 2010 15:35:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29394 The court ruled in favor of the assessee on all three questions referred by the Income-tax Appellate Tribunal. It held that the expenditures on the foundation ceremony and inauguration ceremony were part of the actual cost for depreciation allowance under sections 32 and 37 of the Income-tax Act, 1961. Additionally, the interest expenditure on a bank overdraft during construction was also deemed eligible for inclusion in the actual cost. The court directed the Commissioner to bear the costs of the reference. Case-Laws Income Tax Mon, 31 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29394