2009 (2) TMI 84

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....l, Ahmedabad Bench 'A' (the Tribunal) has referred the following question under Section 256(2) of the Income-tax Act, 1961 (the Act) at the instance of the applicant-revenue for Assessment Year 1988-89: "Whether the appellate Tribunal is right in law and on facts in confirming the order passed by the Dy C.I.T. (Appeals) directing the Assessing Officer to grant depreciation in view of the fact t....

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....ock of plant & machinery were not actually put to use during the year under consideration. Deputy Commissioner (Appeals) has found that since Assessment Year 1988-89 depreciation is allowable on all assets falling within a block of assets as mentioned in Appendix-I of the Income-tax Rules, 1962. It has further been held that in light of the amended provisions w.e.f. Assessment Year 1988-89 individ....