1989 (5) TMI 104

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....owing grant of depreciation @ 30 per cent on generator ?" 2. We have heard the parties. The Tribunal in its order observed that in a number of cases, the Delhi Benches on similar set of facts had taken the view that depreciation at 25 per cent on generator is admissible. In our considered opinion, this does not give rise to a referable question of law. Reference application is, therefore, dismissed. Per Shri S.S. Mehra, Judicial Member --- Draft order prepared by my learned Brother has carefully been gone into but it is regretted that I failed to agree with the conclusion arrived at therein. In my considered view a referable question of law does indeed arise from the Tribunal's order. I, therefore, proceed to prepare a draft statement....

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.... be admissible at 20 per cent in place of 30 per cent claimed and 15 per cent allowed. A copy of the Tribunal's order dated14-6-1988is marked as Annexure 'C' and forms part of the statement of the case. 5. From the facts narrated in the preceding paragraphs a referable question of law as suggested by the applicant does indeed arise for making reference. I do accordingly. ORDER UNDER SECTION 255(4) OF THE INCOME-TAX ACT, 1961 In this case, we have the following difference of opinion : "Whether, on the facts and in the circumstances of the case, a referable question of law arises out of the order of the Tribunal bearing ITA No. 5699/Del/1985 and ITA No. 74/Del/1986 dated14-6-1988?" In view of the above, we refer the case under ....

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....e Tribunal unanimously declared that the depreciation allowable on generators was neither 15 per cent nor 30 per cent but only 20 per cent. For this view, it relied upon the decisions given by Delhi Benches in a large number of cases. Thus the ground of the revenue was partly allowed. 4. Thereafter the assessee filed a reference application stating that the following question of law arises from the order of the Tribunal and that should be referred to the Hon'ble High Court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal erred in law in not allowing grant of depreciation @ 30 per cent on generator ?" The learned Accountant Member declined to refer the question, to the Hon'ble High Court on....