TMI Blog2001 (8) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... ent. on cages worth Rs. 3,16,453. - The Commissioner of Income-tax revised that order on the ground that the assessment made by the Assessing Officer allowing 100 per cent. depreciation on cages is prejudicial to the interests of the Revenue, by virtue of the power conferred under section 263 of the Act. The assessee filed an appeal before the Tribunal - The finding recorded by the learned Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent-assessee is a partnership firm doing business in hatchery. The assessee-firm filed a return of income admitting for the assessment year 1989-90 a taxable income of Rs. 26,540 and agricultural income of Rs. 5,93,478. The assessment was computed on a total income of Rs. 1,45,540. The Assessing Officer while making the assessment allowed depreciation at 100 per cent. on cages worth Rs. 3,16,4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ghout that only a series of cages collectively constitute the "plant", no evidence is placed before the Tribunal or before this court to support the plea. On the other hand, the ratio decidendi of the judgment in Margadarsi Chit Fund (P.) Ltd.'s case [1997] 227 ITR 646 (AP), would squarely support the finding recorded by the learned Tribunal. This appeal does not involve any question of law, muc ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
