CIT Vs Hybrid Rice International Pvt. Ltd. (Delhi HC)

ITAT was correct in law in allowing depreciation to the assessee on the actual cost of the germplasm seeds and the actual cost incurred by the assessee much before becoming an assessee can still be treated as an actual cost to the assessee when depreciation has to be claimed. IN THE HIGH COURT OF DELHI AT NEW DELHI ITA No. 333/2008 & ITA No.338/2008 Reserved on : 11th August, 2009 Pronounced on: 9th October, 2009 1. ITA No.333/2008 Commissioner of Income Tax …Petitioner Through: Ms. Prem Lata Bansal, Mr. Paras Chaudhary,Advocates. Versus Hybrid Rice International Pvt...