2000 (8) TMI 272

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..... n of the Assessing Officer of not allowing a claim of deduction of Rs. 16,00,932 under section 32AB of the Safe Deposit Lockers installed in its strong room. 2. The assessee is a Scheduled Bank and is assessed as Public Limited company. During the year under appeal, the assessee claimed deduction under section 32AB of Rs. 16,00,932 in respect of Safe Deposit Lockers. The Assessing Officer did no .....

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..... e to be located in segregated strong room where no administrative work is done. He further drew our attention to the booklet styled 'Design and Construction of Safe Deposit Vaults and Some Useful tips' by Godrej to prove his point that Safe Deposit Lockers are to be installed in a segregated place. He therefore submitted that the assessee is entitled to Development rebate under section 32AB as the .....

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..... re no administrative work is done. Accordingly, the assessee Bank installed Safe Deposit Lockers in the strong room which cannot be described as part of its office premise. A strong room is a segregated place generally in the basement of the Bank where the Safe Deposit Lockers are installed. No administrative work is carried out in the strong room and all and sundry are not allowed access to that .....

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