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2014 (2) TMI 77 - HC - Income TaxDepreciation - Whether the chlorine toners used by the assessee were gas cylinders – Held that:- Gas cylinders including valves and regulators were entitled to depreciation at the rate of 60% - Any vessel that contains such gas and is used either for transportation or storage would satisfy the requirement of being a gas cylinder - Chlorine toners used by the assessee are essentially and in substance nothing but gas cylinders - The Ld. CIT(A) has rightly treated them as gas cylinders and accordingly allowed depreciation at the rate of 60% - Certificate of the experts also indicated that the same was a gas cylinder – Relying upon the decision in Commissioner of Income-Tax vs. Goyal MG Gases Ltd. [2006 (1) TMI 48 - DELHI HIGH COURT] - Decided against Revenue. Depreciation on computers installed in factory premises – Held that:- There cannot be universal preposition of law that computers are used only in offices and not for manufacturing activities - There may be number of ways in which installation of a computer may enhance and improve the efficiency - There is nothing on record to suggest that the computers were part of the plant and machinery - CIT(Appeals) and the Tribunal treating the same as simplicitor computers and granting depreciation at the rate prescribed under the law calls for no interference – Decided against Revenue.
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