2005 (12) TMI 77

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ction 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), is directed against the order dated May 17, 2004, passed by the Income-tax Appellate Tribunal, Chandigarh Bench-A (for short "the Tribunal"), in I.T.A. No. 562/Chandi of 2003, pertaining to the assessment year 1994-95. According to the Revenue, the impugned order gives rise to the following substantial question of law: .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e up for consideration of this court in CIT v. Chopra Bros. India P. Ltd. [2001] 252 ITR 412. The question for consideration in that case was whether an assessee was entitled to the claim of depreciation on machinery, when a net profit rate on contract receipts had been applied. Answering the question in favour of the assessee, this court opined that such a claim had to be separately taken into ac .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X