1996 (7) TMI 588

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..... e facts and in the circumstances of the case, the Tribunal was justified in law in confirming the order of CIT(A) who directed the AO to allow the depreciation on building i.e. on cold storage and chamber at 15% as against the depreciation allowed by the AO at 10% ? (ii) Whether the Tribunal is right in law in holding that the word plant includes within its ambit building in which machi .....

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..... r by this Court. However, the Tribunal has referred only two questions for consideration as quoted above. We have heard learned counsel for the parties. 3. So far as cold storage is concerned, it falls within the definition of plant as defined under s. 43(3) of the IT Act, 1961 and this view has been taken in series of decisions of various High Courts. In the case of CIT vs . Kanodia Cold .....

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..... reciation at 10%; but for the plant i.e. thermocole insulation is plant and is entitled to depreciation at 15%. In CIT vs . Dev Jaimehi Ice Cold Storage [1985]156ITR825(All) , Allahabad High Court has also taken the view that since a cold storage construction is a specialised construction where the plant consists of a freezing chamber which is made by a special process, the fibre glass used in t .....

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