1995 (2) TMI 45 - HC - Income Tax

Income Tax Act, Investment Allowance, Mining Machinery, Question Of Law, Road Transport Vehicle

Summary

The High Court of Rajasthan dismissed the application under section 256(2) of the Income-tax Act, 1961, requesting a reference to determine if dumpers were used as road transport vehicles or mining machinery for investment allowance and depreciation. The Tribunal held that the assessee must prove exclusive use as mining machinery to be eligible for benefits. The Tribunal remitted the matter to the Assessing Officer for further investigation, as no specific material had been provided. The Court agreed with the Tribunal's decision and dismissed the reference application.