9911796707
TMI Blog1996 (1) TMI 83X X X X Extracts X X X X X X X X Extracts X X X X ..... stance of the Revenue for calling a reference from the Tribunal of the following questions of law : " (1) Whether on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in holding that the pay loader machine falls under clause III (D)(8) of Appendix-I of the Income-tax Rules, 1962, and was, therefore, entitled to depreciation at the rate of 30 per cent. ? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ciation was allowed on pay loaders for the assessment year 1980-81 at the rate of 30 per cent. The order granting depreciation was set aside by the Commissioner of Income-tax under section 263 of the Income-tax Act, 1961, on October 11, 1984, directing the Income-tax Officer to grant depreciation on the pay loader at the rate of 10 per cent. instead of 30 per cent. This order was passed keeping in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7, 1986. The Tribunal held that so far as the grant of depreciation on the terex pay loader is concerned, the Commissioner of Income-tax (Appeals) rightly granted depreciation at the rate of 30 per cent. and so far as the question of grant of depreciation on the trucks is concerned the Commissioner of Income-tax (?) referred the matter back to the Income-tax Officer for decision afresh. Learned co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the present case, it appears that the pay loader has been used for taking the coal lying on the earth and putting it in the dumper. Therefore, this machine is used for collecting the coal lying on the earth and the same may also be used for taking that coal from the dumper to the railway trolley land this machine can certainly be classified as an earth-moving machinery. Therefore, it was in the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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