1996 (10) TMI 55

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....971-72 and 1972-73, the following common question has been referred for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that ' bottles ' used by the assessee were ' plant ' and hence entitled to depreciation at 100 per cent. in terms of the proviso to section 32(1)(ii) of the Income-tax Act ? In respect of the assess....

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....gal position as per the judgments of the Calcutta and Madras High Courts in Century Enka Ltd. v. ITO [1977] 107 ITR 909 and Madras Industrial Linings Ltd. v. ITR [1977] 110 ITR 256 ?" The question whether bottles and shells used by the assessee constitute " plant " for the purposes of section 32(1)(ii) of the Income-tax Act, 1961, came up for consideration before the Andhra Pradesh High Court i....

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....x Act and the assessee was entitled to depreciation in respect of them under section 32(1)(ii) of the Act. For reaching the aforesaid conclusion, reliance was also placed by the Andhra Pradesh High Court on a decision of this court in the case of gas cylinders in CIT v. National Air Products Ltd. [1980] 126 ITR 196 as also to the decision of the Rajasthan High Court in CIT v. Jai Drinks (P.) Ltd. ....