1998 (4) TMI 34

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....The question of law referred to us at the instance of the Revenue relating to the assessee's assessment year 1981-82 is as follows : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in law in holding that the assessee was entitled to depreciation at the amended rate of 15 per cent. on the general machinery or plant for the assessment year 1981-82, ....

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....lied, the amended rules which came into force from April 2, 1983, have no application to the assessment of the income of the assessee in respect of the assessment year 1981-82. A similar view was taken by this court in CIT v. S. Palaniswamy [1996] 219 ITR 380, wherein this court held that the provisions relating to depreciation as they stood on April 1, 1980, had to be applied and, therefore, the ....