2001 (8) TMI 20 - HC - Income Tax

Respondent-assessee is a partnership firm doing business in hatchery. - Rate Of Depreciation - The assessment was computed on a total income of Rs. 1,45,540. The Assessing Officer while making the assessment allowed depreciation at 100 per cent. on cages worth Rs. 3,16,453. - The Commissioner of Income-tax revised that order on the ground that the assessment made by the Assessing Officer allowing 100 per cent. depreciation on cages is prejudicial to the interests of the Revenue, by virtue of the power conferred under section 263 of the Act. The assessee filed an appeal before the Tribunal - The finding recorded by the learned Tribunal is essentially on a question of fact. The Tribunal is the final fact-finding authority. Although it is the stand of the Revenue throughout that only a series of cages collectively constitute the plant , no evidence is placed before the Tribunal or before this court to support the plea. - This appeal does not involve any question of law, much less a substantial question of law.

Summary

The High Court of Andhra Pradesh dismissed an appeal regarding income tax assessment for a partnership firm in the hatchery business. The court upheld the Tribunal's decision to allow 100% depreciation on cages as claimed by the assessee, citing a previous judgment. The appeal was dismissed as it did not involve any substantial question of law.