1970 (11) TMI 15

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....ncome-tax Act. Messrs. Kailash Motors, Dehradun, is the assessee. The assessment year is 1961-62. The assesee is a dealer in motor trucks. It has a factory for repairing and servicing trucks sold by it. The cost of the land was Rs. 1,01,254. The cost of the building constructed on this land was Rs. 1,01, 102. The total investment on land and superstructure came to Rs. 2,08,356. The assessee ....

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....for hearing the case. He accepted the view taken by the Accountant Member and held that the assessee was entitled to depreciation on the value of the land as well as the value of the superstructure. At the instance of the Commissioner of Income-tax, U.P., the Tribunal has referred the following question of law to this court : " Whether, on the facts and in the circumstances of the case, depr....