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2011 (1) TMI 698 - HC - Income Tax100% Depreciation - centering and shuttering material - plant - use by the civil contractor - vallue not exceeding Rs. 5000 - rectification u/s 154 - Held that:- shuttering is not an integrated component forming a plant. - Shuttering material is an integrated unit consisting of more than a few metal or wooden poles, planks and other props used to support the cement construction stage of a building. - a single unit of centering or shuttering material by itself -though durable-may not have functional value. - it is not possible to accept the plea of the assessees that each similar or dissimilar component or unit, forming part of the whole integrated shuttering material, is entitled for 100 per cent. depreciation as a plant. Rectification of mistake u/s 154 - Held that:- A mixed question of fact and law, which has not been raised before the Tribunal, may in certain situations be permitted to be raised. But in this case no such plea was raised and we are afraid we cannot permit the assessee to raise this ground for the first time before us. - Decided against the assesee.
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