2006 (1) TMI 48

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.... filed by the Commissioner of Income-tax, Delhi, under section 260A of the Income-tax Act, 1961, related to the assessment years 1992-93, 1993-94, 1994-95 and 1995-96. The question formulated by the court reads as under : "Whether the Income-tax Appellate Tribunal was correct in giving a finding that the container/tanker mounted on a vehicle was nothing but a big cylinder because it had all att....

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.... this appeal by the Department. 4 Appendix I to the Income-tax Rules is as follows : "(x) Gas cylinders including valves and regulators." 5 These were entitled to depreciation at the rate of 100 per cent. at the relevant time. However, plant and machinery was entitled to depreciation at the rate of 25 per cent. 6 The short question is whether the assessee's item is gas cylinders or a m....