2006 (1) TMI 48

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..... 12-1-2006 - MARKANDEY KATJU C. J. and MADAN B. LOKUR J. JUDGMENT The judgment of the court was delivered by MARKANDEY KATJU C. J.— This Income-tax appeal is filed by the Commissioner of Income-tax, Delhi, under section 260A of the Income-tax Act, 1961, related to the assessment years 1992-93, 1993-94, 1994-95 and 1995-96. The question formulated by the court reads as under : "Whethe .....

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..... d were not owned by the assessee but were taken on hire. The Commissioner (Appeals) accepted by the assessee's plea, and his order has been upheld by the Tribunal. Hence, this appeal by the Department. 4 Appendix I to the Income-tax Rules is as follows : "(x) Gas cylinders including valves and regulators." 5 These were entitled to depreciation at the rate of 100 per cent. at the relevan .....

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..... rticular purpose. Hence, all gas cylinders are entitled to depreciation at the rate of 100 per cent. 7 If we interpret the expression "gas cylinder" to mean "cooking gas cylinder", we will be really adding words to the statute which is not permissible. The chassis on which the cylinders are carried does not belong to the petitioner. Hence, it cannot be said that the cylinders are part of the t .....

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