9911796707
TMI Blog1996 (10) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... ue, for the assessment years 1970-71, 1971-72 and 1972-73, the following common question has been referred for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that ' bottles ' used by the assessee were ' plant ' and hence entitled to depreciation at 100 per cent. in terms of the proviso to section 32(1)(ii) of the Income- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome-tax Act in view of the legal position as per the judgments of the Calcutta and Madras High Courts in Century Enka Ltd. v. ITO [1977] 107 ITR 909 and Madras Industrial Linings Ltd. v. ITR [1977] 110 ITR 256 ?" The question whether bottles and shells used by the assessee constitute " plant " for the purposes of section 32(1)(ii) of the Income-tax Act, 1961, came up for consideration before the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r purposes of the Income-tax Act and the assessee was entitled to depreciation in respect of them under section 32(1)(ii) of the Act. For reaching the aforesaid conclusion, reliance was also placed by the Andhra Pradesh High Court on a decision of this court in the case of gas cylinders in CIT v. National Air Products Ltd. [1980] 126 ITR 196 as also to the decision of the Rajasthan High Court in C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Allahabad High Court in CIT v. Swadeshi Cotton Mills Co. Ltd. [1979] 117 ITR 321. In so far as question No. 3 (pertaining to the assessment year 1973-74) is concerned, the same stands concluded against the assessee in view of the decision of the Supreme Court in Lohia Machines Ltd. v. Union of India [1985] 152 ITR 308. For the aforesaid reasons, the question in respect of the assessment ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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