2010 (8) TMI 952

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.... Sethi, Adv. with Mr.Arta Trana Panda, Adv. A.K.SIKRI, J. 1. Following questions are referred by the Tribunal for our opinion:- "2. In upholding the order of the CIT (A) allowing assessee's claim of depreciation @ 100% on steel plates and scaffolding by ignoring the material fact that Steel plates and scaffolding can not be termed as Plant & Machinery and also that each plate and scaffold....

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....o investment allowance. This question is, therefore, answered against the assessee. 3. To determine the first question we take note of following facts which appear on record:- "5. The assessee claimed 100% depreciation in respect of steel shuttering plates and scaffolding of the value of Rs. 1,55,556/- on the basis that each shuttering plate and scaffolding constituted in itself a plant the ....

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....treated as an independent unit. This very aspect relating to steel plates and scaffolding itself came up for consideration in the Madras High Court in CIT Vs. Alagendran Finance Ltd. (2003) 264 ITR 269. After referring to various case laws in its detailed judgment rendered by the Court, the Court formed the opinion that each steel plate and scaffolding was to be treated as complete unit. It was pr....