2001 (9) TMI 39

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....stance of the Revenue, the following questions have been referred for the opinion of this court under section 256(1) of the Income-tax Act, 1961 (for short the "Act"), by the Income-tax Appellate Tribunal, Delhi Bench "E", New Delhi (for short the "Tribunal"): "1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is correct in law in holding that the ....

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....n integral part thereof and consequently it was entitled to depreciation at 30 per cent. admissible on such vehicles. The Assessing Officer was of the view that the value of air-conditioning machinery is to be separately ascertained and depreciation at 15 per cent. admissible on air-conditioning machinery was to be allowed. Accordingly, he determined the value of the air-conditioning machinery sep....

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....el for the Revenue. There is no appearance on behalf of the assessee in spite of notice. According to learned counsel for the Revenue the air-conditioning plant is not an integral part of the bus and a bus can operate even without the air-conditioning plant and, therefore, the conclusions of the Commissioner of Income-tax (Appeals) and the Tribunal are not in order. We find that the Revenue had mo....