1996 (4) TMI 98

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....f the Income-tax Act, 1961 (hereinafter referred to as " the Act "), on an application for the assessment year 1979-80, asked the Tribunal to refer the following question to this court for its opinion : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in directing to allow depreciation at cent per cent. new purchases of bottles and containers worth....

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....enue the same was also dismissed. As noted above the question has been referred for our decision. Mr. Pawan Kumar, learned counsel appearing on behalf of the assessee, referred to two decisions : one of the Rajasthan High Court in CIT v. Jai Drinks (P.) Ltd. [1988] 173 ITR 100 and another that of the Andhra Pradesh High Court in CIT v. Sri Krishna Bottlers Pvt. Ltd. [1989] 175 ITR 154. In both ....