TMI Blog1970 (11) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... - - - - - Dated:- 17-11-1970 - Judge(s) : H. N. SETH., V. G. OAK. JUDGMENT The judgment of the court was delivered by V. G. OAK C.J.-This is a reference under the Income-tax Act. Messrs. Kailash Motors, Dehradun, is the assessee. The assessment year is 1961-62. The assesee is a dealer in motor trucks. It has a factory for repairing and servicing trucks sold by it. The cost of the lan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tant Member was of the view that depreciation had to be allowed for land as well as superstructure. The matter was referred to the President of the Tribunal as third Member for hearing the case. He accepted the view taken by the Accountant Member and held that the assessee was entitled to depreciation on the value of the land as well as the value of the superstructure. At the instance of the Com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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