9911796707
TMI Blog1998 (6) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... red the following question of law under section 256(1) of the Income-tax Act, 1961, for our consideration : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the rigs and compressors. mounted on a lorry used for drilling borewells is entitled for special depreciation at 30 per cent." The assessee is a registered firm. During the cours ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Commissioner (Appeals) also disclosed the fact that the assessee had produced some materials to prove its claim before the Commissioner of Income-tax (Appeals). The Commissioner of Income-tax (Appeals) allowed the claim of the assessee and held that the assessee was entitled to depreciation on compressors and wagon drills at the rate of 30 per cent. on the cost of the rigs, compressors, etc. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... meaning of the said term used in entry No. III(ii)D(9) of Part I of Appendix I to the Income-tax Rules, 1962. Learned counsel for the assessee submitted that the case of the assessee was that the rigs and compressors were earth moving machinery employed in heavy construction works such as dams, tunnels, etc., and they fall under entry No. (4) in item No.III(ii)D in Part I of Appendix I of the Depr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee has claimed depreciation at 30 per cent. on the basis that they were part of the lorry and held the assessee was entitled to depreciation at the rate of 30 per cent. Since the case of the assessee was that the rigs and compressors should be regarded as machinery employed in heavy construction works, such as dams, tunnels, etc., and falling under different entries of the Depreciation Schedul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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