1997 (11) TMI 97

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....was delivered by P. VENKATARAMA REDDY J.---At the instance of the Commissioner of Income-tax, Karnataka Central, Bangalore, the following substantial question of law is referred under section 256(1) of the Income-tax Act for the decision of the High Court : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that the tipp....

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....the said section. Sub-section (1) of section 32A, in so far as it is relevant, provides for allowance of deduction for the machinery or plant specified in sub-section (2) which is owned by the assessee and is wholly used for the purposes of the business carried on by him. The investment allowance that could be allowed in respect of the previous year is 25 per cent. of the actual cost of the machin....

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.... do not qualify for relief under section 32(A). The Income-tax Officer, in order to understand the meaning of the expression "road transport vehicle", sought the aid from the definition of "vehicle" occurring in the Road Transport Corporations Act, 1950. The Tribunal, while reversing the view taken by the lower authorities, held that the expression was not used in any technical sense and that it w....

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....hich is an Act to provide for the regulation and incorporation of the Road Transport Corporations in the country. In fact, the definitions of road transport service and vehicle, even if it is permissible to import, do not in any way support the view taken by the Assessing Officer. In the absence of any definition in the Income-tax Act, the expression "road transport vehicle", shall, as rightly poi....