TMI Blog2005 (2) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... the rate of 10% - Income Tax Reference No. 45 of 1989 - - - Dated:- 1-2-2005 - JUDGMENT The judgment of the court was delivered by R. K. AGRAWAL J. — The Income-tax Appellate Tribunal, Allahabad has referred the following question of law under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act") for opinion to this court: "1. Whether the Tribunal was legally ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the year under consideration. The applicant has also claimed depreciation on the generator which was allowed at 10 per cent. by the Income-tax Officer. Feeling aggrieved, the applicant preferred an appeal before the Commissioner of Income-tax (Appeals) who allowed the same and directed the Income-tax Officer to allow the claim for investment allowance after verification He also enhanced the de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el for the applicant, and Sri Ashok Kumar, learned standing counsel appearing for the respondent. 6 We find that under section 32A(1) of the Act investment allowance is admissible in respect of machinery or plant in the previous year in which it was installed. Putting it into use is not a pre-condition for grant of investment allowance. The Calcutta High Court in the case of CIT v. Surama Tu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respectful agreement with the view taken by the Calcutta High Court and, therefore, hold that the applicant was entitled to investment allowance in respect of machinery installed in the previous year relevant to the year under consideration. 8 So far as the depreciation on generator is concerned, generator is not specifically specified in Appendix I relating to table of rates on which the dep ..... X X X X Extracts X X X X X X X X Extracts X X X X
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