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2002 (1) TMI 16 - MADRAS HIGH COURTDepreciation, Rate Of Depreciation - "Whether, on the facts and in the circumstances of the case and considering the fact that in the case quoted by the Income-tax Appellate Tribunal, i.e., CIT v. Popular Borewell Service, the Madras High Court had held that depreciation of 30 percent was not allowable on rig and compressor used in drilling borewell, the Appellate Tribunal was justified in holding that depreciation at 30 percent was allowable on rig and compressor used in drilling bore-wells?" we direct the Income-tax Appellate Tribunal, Jaipur Bench, to state the statement of facts and refer the question of law referred to above for the opinion of this court.
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