https://www.taxtmi.com/caselaws?id=38024 The High Court upheld the Tribunal's decision to classify the expenditure as capital and allow depreciation, favoring the assessee. The Court emphasized the importance of clear findings of fact by the Tribunal and reiterated the criteria for claiming depreciation on assets. Both parties agreed on the relevant facts, leading the Court to find it unnecessary to call for a fresh statement of the case. The reference was disposed of in favor of the assessee, with no order as to costs. en-us Wed, 27 Jul 1977 00:00:00 +0530 Fri, 18 Sep 2015 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38024 The High Court upheld the Tribunal's decision to classify the expenditure as capital and allow depreciation, favoring the assessee. The Court emphasized the importance of clear findings of fact by the Tribunal and reiterated the criteria for claiming depreciation on assets. Both parties agreed on the relevant facts, leading the Court to find it unnecessary to call for a fresh statement of the case. The reference was disposed of in favor of the assessee, with no order as to costs. Case-Laws Income Tax Wed, 27 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38024