TaxTMI 
TaxTMI 
2000 (8) TMI 38
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....on 260A of the Incometax Act, 1961 (in short "the Act") the order of the Income-tax Appellate Tribunal, New Delhi (in short "the Tribunal") in I.T.A. No. 6110/D/95, dated December 16, 1998, is under challenge, in respect of the question as regards the rate of depreciation on the bottles given on lease to another concern. The dispute relates to the assessment year 1987-88. The factual position whi....
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....t and all the bottles purchased by the assessee in bulk constituted a plant. To justify the conclusion, it was pointed out that the bottles were supplied in bulk after they were purchased in bulk. The matter was carried in appeal before the Commissioner of Income-tax (Appeals) (in short, the "CIT(A)"). The matter initially was remitted for fresh adjudication by the said authority and subsequently ....
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....llowable, on the articles leased out, (b) each bottle for the purpose of first proviso to section 32(1)(ii) constitutes a plant and not necessarily all the bottles purchased on a particular date in bulk. Learned counsel for the Revenue submitted that the question whether a particular bottle would constitute a plant would depend upon the nature of activities carried on by the assessee. In the case....
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....d constitute a plant. This court in Monga's case [1997] 226 ITR 864 held that even one bottle can constitute a plant. We find no distinction to be permissible, merely because the assessee was a leasing concern as contended by learned counsel for the Revenue. That would not really change the nature of the plant, i.e., a single bottle. It has been accepted by the Revenue authorities that the bottles....