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2006 (1) TMI 107 - HC - Income TaxBusiness of leasing equipment - depreciation on cyclonic scubber equipment and electro static precipitator - whether the said machines were utilised by the assessee for its business so as to entitle it to claim depreciation in terms of section 32 - Tribunal have concurrently come to the conclusion that the machines in question had actually been installed at the plywood manufacturing unit of the lessee. The actual user of the machine was in the light of the said installation presumed and in our view rightly so. In the absence of any evidence to the contrary once the machines were installed at the place of the lessee it could be presumed that the same had been utilised, even assuming that such actual user was a condition precedent for the lessee to claim depreciation. - In the light of the findings of fact recorded by the Tribunal no question of law much less a substantial question of law arises for our consideration in this revenue’s appeal, which fails and is hereby dismissed.
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