1992 (3) TMI 14

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rred the following question of law for the decision of this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the depreciation on printing rolls is allowable at 30 per cent. ?" The facts of the case are that the assessee claimed depreciation on printing rolls at the rate of 30 per cent., which was allowed by the Income tax Officer at .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... graved in the said copper rolls are only temporary in nature and are wiped out and a fresh design or pattern is again engraved thereon. The said Bench held that the copper rolls are not machinery or parts of machinery but are raw materials purchased for making different blocks on which designs or patterns are engraved. In the process of wiping out the designs, loss of copper of about one kg. on ea .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the rolls on which engraving is done will be admissible at the rate of ten per cent. The words "patterns", "dies" and "templates" have not been defined under the Income-tax Act, 1961, or the Rules made thereunder. The definition of patterns, dies and templates, according to various dictionaries, is given below : "Pattern : A reliable sample of traits, acts or other observable features charact .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... coining money, striking a medal or embossing paper. (Legal Glossary-1988, page 99) Template : A pattern, usually of thin sheet metal or wood, used when cutting, shaping, etc./a block of wood or metal inserted in a wall to distribute vertical pressures/(genetics) a macro-molecule (DNA or RNA) on which an enzyme creates a complementary strand. (The New Lexicon Webster's Dictionary : Vol. 2 : Encyc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nsidered to be dies. Similarly, according to the definition of templates, the copper rolls cannot be considered to be patterns by themselves. The copper rolls were, therefore, rightly held by the Income-tax Officer as not falling under the above entry and entitled for depreciation at ten per cent. Reference is, accordingly, answered in favour of the Revenue and against the assessee and it is hel .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X