2006 (2) TMI 130

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....The present appeal is filed under section 260A of the Income-tax Act, 1961 by the Revenue, in I.T.A No. 1141/Mds/97, passed by the Income-tax Appellate Tribunal, Madras, "B" Bench raising the following substantial question of law. "Whether in the facts and circumstances of the case, the Tribunal was right in allowing 100 per cent, depreciation on printing cylinders, sintex shipper ice box, MS b....

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....t, each one of the printing cylinders, MS bins and shipper sintex ice boxes was a plant and was qualified for 100 per cent, depreciation. Aggrieved by the order, the Revenue filed an appeal before the Income-tax Appellate Tribunal. The Income-tax Appellate Tribunal dismissed the Revenue's appeal and held that the assessee was entitled for 100 per cent, depreciation on the said item. Learned counse....

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....for shippers sintex ice boxes, as shippers sintex ice boxes are of different capacities and are used individually as per the requirements. So, each of these assets is a plant. In the case of First Leasing Co. of India Ltd. v. CIT (No. 2) reported in [2000] 244 ITR 238 (Mad), it is held that "each bottle was an independent unit and was not dependent for its user on the availability of other bottles....