9911796707
TMI Blog2009 (2) TMI 400X X X X Extracts X X X X X X X X Extracts X X X X ..... as been made by the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur (hereinafter referred to as "the Tribunal"), at the instance of the Revenue in R.A. No.352/JP/88 (arising out of I.T.A. No. 850/JP/87) pertaining to the assessment year 1987-85, for the opinion of this court. "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onfirmed the order of the Appeallate Assistant Commissioner. 3. Learned counsel for the Revenue has submitted that the reference made for opinion of the court was also the subject-matter in cause title CIT v Manjeet Stone Company [1991] 190 ITR 183 (Raj) and stood answered by the Division Bench of this court. On a perusal of the aforesaid judgment we find that the issue was the same and while dea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hem on hire. The business of the assessee is quarrying and selling the stones after excavation and not of hiring. If a small portion of its income is received from the business of hiring from two or three transactions of hiring then it will not make the business of the assessee as one of hiring the trucks. Even otherwise, when we look into the finding arrived at by the Tribunal regarding the busin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the question in the negative, i.e., in favour of the Revenue and against the assessee, by holding that the assessee is entitled to depreciation at 30 per cent. and not at 40 per cent., as the case of the assessee is covered by entry No. III(ii)D(9) and not b entry No. III(ii)E(1A). No order as to costs." 4. We answer the reference in favour of the Revenue and against the assesee, accordingly. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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