1985 (10) TMI 71

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....section 256(1) of the Income-tax Act, 1961, and they relate to the assessment years 1963-64 and 1964-65. The questions referred to us for determination in these references are as follows : " (1) On the facts and in the circumstances of the case, whether the assessee was entitled to depreciation on the interest and the foreign tour expenses capitalised in earlier years as reduced by the deprecia....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of the assessee. The question is, therefore, answered accordingly without further discussion. With regard to question No. (2) as far as item No. (i) is concerned, it is agreed between counsel that it will have to be answered in favour of the assessee, in view of the aforesaid decision of the Supreme Court referred to hereinabove. As far as item No. (ii) is concerned, it refers to the cost of t....