1996 (7) TMI 63

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.... Income-tax Act, 1961, at the instance of the Revenue and the following two questions of law have been referred by the Tribunal for answer by this court : " (i) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the contract awarded by Bhilai Steel Plant was not a new source of income within the meaning of the second proviso to sub-section (2)....

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....ths as against 23 months claimed by the assessee in accordance with section 3 of the Income-tax Act, 1961, with effect from April 1, 1989. This finding of the Assessing Officer was upheld by the Commissioner of Income-tax (Appeals). Thereafter, the assessee approached the Tribunal and the Tribunal granted a depreciation on poclain machinery for a period of 23 months. Hence, the Revenue has approac....