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TMI Blog2005 (7) TMI 97X X X X Extracts X X X X X X X X Extracts X X X X ..... peared for the assessee. JUDGMENT The judgment of the court was delivered by Rajes Kumar J.— The Income-tax Appellate Tribunal has referred the following question of law under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), for the assessment year 1989-90, for the opinion to this court : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee was entitled to grant of depreciation at the rate of 100 per cent. on the cost of high efficiency boiler installed and used in the assessee's factory ?" 2. The brief facts of the case are as follows : The assessee/opposite party (hereinafter referred to as "the assessee") is a co-oper ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come-tax (Appeals) rejected the assessee's contention, vide his order dated February 14, 1992. 6. The assessee preferred an appeal against the order of the Commissioner of Income-tax (Appeals) before the Tribunal. The Tribunal allowed the appeal and held that the assessee was entitled to 100 per cent. depreciation. The Tribunal held as follows: "We have carefully considered the submissions made by the learned representatives of the parties and have gone through the orders of the Departmental authorities. The specification of the boiler for distillery unit as given in Schedule A to the agreement which has been placed at pages 1 to 3 of the paper book, inter alia, reveals the following : The boiler should be provided with automatic p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntitled to depreciation at 100 per cent. We will, however, like to observe that in case the assessee has claimed depreciation in the subsequent years, on the WDV after taking into consideration, the depreciation allowable at the normal rate of depreciation provided for plant because of the fact that 100 per cent. was denied in the assessment year 1989-90, the depreciation so allowed, if any, in the subsequent years will have to be withdrawn. In case, the assessee agrees to withdrawal of depreciation granted on the said boiler in the subsequent years, deduction by way of 100 per cent. depreciation should be allowed to the assessee in the year under consideration." 7. Heard Sri R. K. Upadhayay, learned standing counsel for the Revenue. No ..... X X X X Extracts X X X X X X X X Extracts X X X X
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