2002 (5) TMI 12

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....llate Tribunal, Jaipur Bench, has made the instant reference under section 256(1) of the Income-tax Act, 1961, seeking opinion of the following question: "Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in confirming the order of the learned Commissioner of Income-tax (Appeals) and thereby directing grant of depreciation at 30 per cent. on rig mach....

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....nsumption of diesel. 3. Record showing the spare parts replaced and the scrap value of the parts replaced. 4. Documentary evidence regarding sale of compressor." None of the above informations were furnished by the assessee but he claimed depreciation at 30 per cent. on the cost of rig, i.e., Rs. 5 lakhs. The Income-tax Officer rejected the claim observing that the 30 per cent. rate is al....

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.... order to appreciate the controversy involved, it would be convenient to refer to the relevant entry being, i.e., item III(ii)D(9) of Part I of Appendix I to the Income-tax Rules, which reads as follows: "III. Machinery and plant (not being a ship), (ii) Special rates: D. (1) to (8) (omitted) (9) Motor buses and motor lorries, motor taxis, 30 per cent." motor tractors (N.E.S.A.) The....