2002 (7) TMI 842

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....p;1 Served by RPAD - (N) For Respondent No. 1 ORAL JUDGEMENT (PER : MR. JUSTICE K.A.PUJ) At the instance of the Revenue, the following question of law is referred to this Court for its opinion:- "Whether, the assessee is entitled to depreciation at the rate of 30% on the Dumpers employed in its business of road construction?" 2. The Income-tax Officer in the course of assessment pro....

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....t the rate of 15%. 4. The Appellate Tribunal relying on its earlier decision in the case of M/s. Hindustan Construction Company ITA No. 1515 to 1517/Ahd/1986 held that Dumpers would be entitled to depreciation at the rate of 30%. The Appellate Tribunal, therefore, set aside the order made by the Commissioner of Income-tax under section 263 and restored the order made by the I.T.O.. 5. We ha....