1986 (3) TMI 53

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..... " the Act ") the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was not entitled to depreciation on the plant and machineries at 15% as per entry III-B(3) of Appendix I, Part I, of the Income-tax Rules? " The mat .....

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..... al, therefore, dismissed the appeal in that behalf. Aggrieved by the order passed by the Tribunal, the assessee sought a reference and it is at the instance of the assessee that the aforesaid question of law has been referred to this court for its opinion. Having heard learned counsel for the parties, we have come to the conclusion that this reference has to be answered in the negative and in fa .....

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