1996 (4) TMI 29

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..... and the following question of law has been referred by the Tribunal for the answer of this court : "Whether, on the facts and under the circumstances of the case, the Tribunal was right in cancelling the order passed by the Commissioner of Income-tax under section 263 of the Income-tax Act, holding that the assessment order passed by the Assessing Officer for the assessment year 1982-83 was erro .....

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..... taken up before the Tribunal and the Tribunal after considering the matter found that the order passed by the Income-tax Officer by allowing 15 per cent. depreciation is justified. Hence, an application was made by the Revenue before the Tribunal for sending a reference to this court and the aforesaid question of law has been referred by the Tribunal to this court for answer. We have heard learne .....

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