9911796707
TMI Blog2006 (3) TMI 104X X X X Extracts X X X X X X X X Extracts X X X X ..... t the directions given by the Tribunal to treat the ore shed as plant and allow depreciation and extra shift allowance, cannot be regarded as erroneous - - - - - Dated:- 29-3-2006 - Judge(s) : J. M. PANCHAL., BANKIM N. MEHTA. JUDGMENT The judgment of the court was delivered by J.M. Panchal J.-The Income-tax Appellate Tribunal has referred to this court the following two questions for opinion in terms of section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as the "Act"). Those two questions are as under: "(i) Whether, the Appellate Tribunal is right in law and on facts in directing the Assessing Officer not to deduct the amount of subsidy from the cost of assets for the purpose of calculation of depreciation? (ii ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petition in similar matters, question No. 1 has been referred to this court at the instance of the Revenue. As far as the second question is concerned, it has been observed by the Tribunal that the ore shed is a very special type of structure wherein the machinery are built-in and such facilities have been created which enable the smooth feeding of the loose raw material to the plant for further process and such structure is an integral part of the entire plant. Though the assessee is duly served it has neither appeared through its authorised officer or a lawyer. This court has heard Mr. Tanvish U. Bhatt, learned counsel for the Revenue at length and in great detail. The direction given by the Tribunal to the Assessing Officer not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n integral part of it. On appreciation of evidence adduced, the Commissioner of Income-tax (Appeals) has held that without this ore shed including ore hopper with foundation and feed steel type tank, it will not be possible to feed the material in the plant for further process. The finding recorded by the Commissioner of Income-tax (Appeals) is that the trucks carrying raw material are emptied on a special platform in the ore shed which is equipped with built-in machinery to transfer this material to the plant for further process and therefore, the ore shed should be treated as part of the plant. These findings have been upheld by the Appellate Tribunal which is quite evident from the findings recorded in paras. 3.1(b) and 3.1(c) of the ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
