9911796707
TMI Blog1997 (10) TMI 49X X X X Extracts X X X X X X X X Extracts X X X X ..... eference under section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue and the following question of law has been referred by the Tribunal for answer by this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the assessee was entitled to depreciation at 100 per cent. on centering material under section 32 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the statement of facts annexed to the reference application and contended that the view taken by the Commissioner of Income-tax (Appeals) is not correct, and the assessee is not entitled to 100 per cent. depreciation on centering material. However, the Tribunal by referring to the decision in the case of Khare and Tarkunde, allowed 100 per cent. depreciation. Hence, the Department approached the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as a plant and machinery which costs less than Rs. 5,000 and had claimed full depreciation. This, according to learned counsel for the Revenue, is not correct as by piecing all the plant and machinery together, they make one plant used for construction of a building. There is no direct evidence before us whether each individual centering material can be sufficient for construction of a building or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plant for centering purposes or individual pieces of centering material should be treated as sufficient for purposes of a plant so as to enable the assessee to claim hundred per cent. exemption because it costs below Rs. 5,000. The essential facts are not before us. We, therefore, direct the Tribunal to examine the aforesaid factual aspect and determine the question whether each plate of the cen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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