1997 (2) TMI 43

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....the instance of the Department, the Tribunal referred the following questions, for the assessment years 1975-76 and 1976-77, for the opinion of this court, under section 256(1) of the Income-tax Act : "(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in holding that the assessee is entitled to initial depreciation in respect of the machine....

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....uch as the order passed by the Tribunal on this point is in accordance with the above cited decision of the Supreme Court, we answer this question No. 2 referred to us in the affirmative and against the Department. In so far as question No. 1 is concerned, the point for consideration is whether the assessee is entitled to initial depreciation in respect of the machinery installed during the yea....