1992 (7) TMI 331

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... P. Deodhar and K. C. Sidhwa For the Respondent : P. J. Pardiwalla, B. D. Damodar and Kanga JUDGMENT MRS.Sujata Manohar,J.- 1. This is an application under s. 256(2) of the IT Act. The Department requires the following question to be raised by the Tribunal and referred to us for determination :                "Wh....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the ITO says that full expenditure has been allowed in the year of the acquisition of the assets, what he really means is that the amount spent on acquiring these assets had been treated as application of income of the trust in the year in which the income was spent in acquiring these assets. This does not mean that in computing income from those assets in subsequent years, depreciation in respect....