1998 (10) TMI 34

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sessing Officer and the appellate authority have dealt with legitimate claim of the assessee for extra shift allowance. The claim of the assessee, on a bare reading of the provisions of the Income-tax Rules, 1962, was clearly admissible. No argument was put forth to support the reference, as indeed no such argument is available, having regard to the plain language in the depreciation table. The .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... and plant to which the general rate of depreciation of 10 per cent. applies 3. Mineral oil concerns---field operations :... d. Storage tanks (above ground)". It is clear from this illustration that storage tanks are plant or machinery and that it is only the storage tanks which are owned by mineral oil concerns that are. not eligible to claim extra-shift depreciation allowance. If the condit .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... and is not a mineral oil concern. Even after that order of the Tribunal, the Revenue has persisted and has caused this reference to be made. In the light of what has been discussed by us earlier, it is patent that the extra-shift allowance is clearly admissible in respect of the molasses storage tanks owned by the assessee. The first question referred to us, namely, "whether, on the facts and .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X