1995 (5) TMI 11

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..... l question of law to be referred to this court in terms of sub-section (2) of section 256 of the Income-tax Act, 1961 : " Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in holding that for the computation of income under section 115J, depreciation is to be allowed in accordance with the Income-tax Rules and not as per the provisions .....

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..... of the Companies Act and claimed depreciation as per the Income-tax Rules. The Tribunal was, therefore, justified in rejecting the application for reference so far as this question of law was concerned and had rightly relied upon the judgment of the Supreme Court in Mathura Prasad v. CIT [1966] 60 ITR 428. So far as the question regarding the applicability of section 80-I(8) of the Income-tax Ac .....

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