1997 (12) TMI 8

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..... "ships" in the depreciation table, it is clear that a flat-bottomed boat used as ferry -boat will clearly come within the description "vessel ordinarily operating on inland waters" - revenue appeal is dismissed - - - - - Dated:- 16-12-1997 - SUHAS C. SEN. and S. S. M. QUADRI. Court : SUPREME Court BY THE COURT : The following question of law was referred by the Tribunal to the Hig .....

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..... t of the actual cost thereof to the assessee. 3. The only question is whether "pontoons" and "tugs" will come within the word "ship". The word "ship" has not been defined in the Act. However, in the table of rates at which depreciation is admissible, the meaning of ship has been given in Appendix-I to the IT Rules where "ship" is defined to include : "1. Ocean going ships : (i) Fishing vesse .....

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..... cording to the Concise Oxford Dictionary, 1976 Edition, "pontoon" is a flat-bottomed boat used as ferry-boat or to carry lifting-gear, etc. Having regard to the width of the meaning given to the word "ships" in the depreciation table, it is clear that a flat-bottomed boat used as ferry -boat will clearly come within the description "vessel ordinarily operating on inland waters". There is no reas .....

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