2002 (7) TMI 842

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..... sp;1 Served by RPAD - (N) For Respondent No. 1 ORAL JUDGEMENT (PER : MR. JUSTICE K.A.PUJ) At the instance of the Revenue, the following question of law is referred to this Court for its opinion:- "Whether, the assessee is entitled to depreciation at the rate of 30% on the Dumpers employed in its business of road construction?" 2. The Income-tax Officer in the course of assessment pr .....

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..... at the rate of 15%. 4. The Appellate Tribunal relying on its earlier decision in the case of M/s. Hindustan Construction Company ITA No. 1515 to 1517/Ahd/1986 held that Dumpers would be entitled to depreciation at the rate of 30%. The Appellate Tribunal, therefore, set aside the order made by the Commissioner of Income-tax under section 263 and restored the order made by the I.T.O.. 5. We h .....

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..... pointed out, we are of the view that the assessee is entitled to depreciation at the rate of 30% on the dumpers employed in the business of road construction. 8. We, therefore, answer the question referred to us in the affirmative i.e. in favour of the assessee and against the revenue. 9. The Reference is accordingly disposed of with no order as to costs.
Case laws, Decisions, Judgements, O .....

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