1997 (10) TMI 37

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....ollowing two questions have been referred by the Tribunal for answer by this Court : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee was entitled to claim depreciation at 50 per cent instead of 33-1/3 per cent, as provided by the law ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was justi....

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....rred by the Tribunal. We have gone through the record and after considering the matter, we are of the opinion that the view taken by the AO appears to be justified. The question for consideration in this case is as what is the business of the assessee. The assessee is doing transport business of transporting passengers from one place to the other. Therefore, the business of the assessee is a tra....