1992 (3) TMI 14

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....tax Appellate Tribunal, Jaipur Bench, Jaipur, has referred the following question of law for the decision of this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the depreciation on printing rolls is allowable at 30 per cent. ?" The facts of the case are that the assessee claimed depreciation on printing rolls at the rate of 30 per....

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....ther observed that the designs or patterns which are engraved in the said copper rolls are only temporary in nature and are wiped out and a fresh design or pattern is again engraved thereon. The said Bench held that the copper rolls are not machinery or parts of machinery but are raw materials purchased for making different blocks on which designs or patterns are engraved. In the process of wiping....

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....re which is allowed and, therefore, the depreciation on the rolls on which engraving is done will be admissible at the rate of ten per cent. The words "patterns", "dies" and "templates" have not been defined under the Income-tax Act, 1961, or the Rules made thereunder. The definition of patterns, dies and templates, according to various dictionaries, is given below : "Pattern : A reliable sa....

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....essing a design or figure upon some softer material, as in coining money, striking a medal or embossing paper. (Legal Glossary-1988, page 99) Template : A pattern, usually of thin sheet metal or wood, used when cutting, shaping, etc./a block of wood or metal inserted in a wall to distribute vertical pressures/(genetics) a macro-molecule (DNA or RNA) on which an enzyme creates a complementary st....