2001 (3) TMI 49

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....NKARASUBBAN J.--This income-tax reference is at the instance of the Revenue. The question of law referred is as follows: "Whether, on the facts and circumstances of the case, the Tribunal is right in law and fact in holding that the assessee is entitled to depreciation at the rate of 15 per cent. on the furniture and fittings in the hospital on the view that hospital comes within the term 'welf....

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....ax Rules, depreciation at the rate of 15 per cent. is allowable on furniture and fittings used in hotels, restaurants, schools, colleges, and other educational institutions, welfare centres, etc. According to the assessee, a hospital is a welfare centre and so in respect of the furniture and fittings used in the hospital, depreciation is allowable at the rate of 15 per cent. The exression 'welfare....

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....s; theatres and circuses; and furniture and fittings let out on hire for use on the occasion of marriages and similar functions, the depreciation allowance is 15 per cent. According to the Tribunal, a hospital will come within the meaning of "welfare centre". According to us, the interpretation given by the Tribunal is not correct. It is one of the principles of interpretation in the taxation law ....