1987 (10) TMI 3

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....OJHA C. J.-The Tribunal Delhi Bench "A", New Delhi, has referred the following question to this court for its opinion under section 256(1) of the Income-tax Act, 1961 ("the Act") : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in rejecting the assessee's claim of depreciation at the rate of 15 per cent. on the machinery in question ?" The assessee....

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.... the rate of 15 per cent. It has been urged by learned counsel for the assessee that the Tribunal has not taken into consideration the circumstance that iron, lead and copper persist in the composition of molasses. Reliance has been placed in support of the submission on a book titled 'Cane Sugar Handbook' authored by Meade Chem. In our opinion, even if it is accepted for the sake of argument that....