TMI Blog1989 (3) TMI 162X X X X Extracts X X X X X X X X Extracts X X X X ..... relates to the allowance of 100 per cent depreciation on new empty bottles. The second ground relates to the allowance of 15 per cent depreciation on old bottles. The ITO had held that the empty bottles and shells constituted packaging and that they did not constitute a 'plant'. 3. On the other hand, the learned CIT(A) accepted the submissions of the assessee. 4. After hearing the learned re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arge as income of the assessee. 7. Before us, the learned Departmental Representative Mr. B.S. Sandhu relied upon the order of the ITO as also on the decision of the Supreme Court in the case of Punjab Distilling Industries Ltd. vs. CIT (1959) 35 ITR 519 (SC). He submitted that the learned CIT(A) has not considered this decision. On the other hand, on behalf of the assessee the order of the CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the wholesalers certain further amounts, described as security deposits, which were returned as and when the bottles were returned. The Hon'ble Supreme Court held on those facts that the security deposits amounted to trading receipts. In the present case, the bottles were not sold. In fact, the terms and conditions, a copy of which has been filed by the assessee on the paper book clearly spel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the facts in the case of the assessee. We, therefore, find no force in this ground. Incidentally, the same view was held by a Special Bench of the Tribunal in the case of Detective Devices (P) Ltd. vs. ITO (1987) 65 CTR (Trib) (Hyd) 5 : (1987) 22 ITD 9 (Hyd) (SB), where the assessee company was a dealer in liquid gases and supplied cylinders to the customers. It was held in that case that the dep ..... X X X X Extracts X X X X X X X X Extracts X X X X
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