2009 (2) TMI 84

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..... s referred the following question under Section 256(2) of the Income-tax Act, 1961 (the Act) at the instance of the applicant-revenue for Assessment Year 1988-89: "Whether the appellate Tribunal is right in law and on facts in confirming the order passed by the Dy C.I.T. (Appeals) directing the Assessing Officer to grant depreciation in view of the fact that concept of block of assets had been in .....

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..... o use during the year under consideration. Deputy Commissioner (Appeals) has found that since Assessment Year 1988-89 depreciation is allowable on all assets falling within a block of assets as mentioned in Appendix-I of the Income-tax Rules, 1962. It has further been held that in light of the amended provisions w.e.f. Assessment Year 1988-89 individual items included in the block are not to be co .....

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..... it is not necessary that all the items falling within plant & machinery have to be simultaneously used for being entitled to depreciation. 6. In the result, in absence of any error committed by the Tribunal, the question, referred for the opinion of this Court, is answered in the affirmative i.e. in favour of the assessee and against the revenue. The reference stands disposed of accordingly with .....

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