2000 (8) TMI 8 - SCH - Income Tax

Whether, the Income-tax Appellate Tribunal was correct in law in holding that the sale of eggs and birds by the assessee constitutes income of an industrial undertaking for the purpose of allowing deductions under sections 80HH and 80-I of the Income-tax Act, 1961- Whether, the Income-tax Appellate Tribunal has erred in law in treating the poultry sheds as plant and allowing a higher rate of depreciation - Tribunal is directed to refer both questions to the High Court

Summary

The Supreme Court allowed the civil appeal, directing the Income-tax Appellate Tribunal to refer two questions to the High Court regarding the sale of eggs and birds by the assessee and the treatment of poultry sheds as 'plant' for depreciation. The High Court is to answer the first question based on a previous decision and consider the second question.