2003 (9) TMI 57

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nue under section 256(1) of the Income-tax Act, 1961 ("the Act"). The following question of law has been referred to us by the Income-tax Appellate Tribunal, Ahmedabad Bench "C", for the assessment year 1983-84: "Whether, the Appellate Tribunal is right in law and on facts in directing the Inspecting Assistant Commissioner to allow depreciation at the rate of 15 per cent. on diesel generating set....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssment was distinct and independent. The assessee carried the matter in appeal before the Tribunal and the Tribunal referred to the decisions of the Ahmedabad Bench and Jaipur Bench of the Tribunal and found that such machinery, namely, generating sets, was entitled to depreciation at the rate of 30 per cent., the assessee had restricted its claim to deduction at the rate of 15 per cent. and hence....