Tamil Nadu Civil Supplies Corporation ... vs Commissioner Of Income-Tax

The Supreme Court upheld the High Court's decision denying the assessee depreciation under Section 32 of the Income-tax Act, 1961 for the assessment years 1973-74 and 1974-75. The Court distinguished the case from Mysore Minerals Ltd. v. CIT, emphasizing that the assessee did not acquire dominion over the mills in question, as there was no evidence to support such a claim. Consequently, the appeal was dismissed with costs.