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TMI Blog1987 (3) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee, pertain to the assessment year 1982-83. 2. The assessee is a company carrying on a certain business activity. In the assessment, a claim for depreciation and investment allowance had been made in respect of certain barges which had been acquired during the relevant accounting year on an investment of more than Rs. 20 lakhs. The Income-tax Officer rejected both the claims. The Commissione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ollowing : " (14) To purchase, lease, hire, charter, build, or otherwise acquire or provide roads, ways, railways, tramways, bridges, reservoirs, docks, water course, jetties, wharves, piers, ships, steamers, boats, barges, or other vessels, engines, transport facilities .... (15) To let out on hire any of the property of the Company (whether real or personal) including every description of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y any mechanical force. They are without engines. In these barges goods are loaded and towed by tug. 6. The first point was met by Shri Inamdar by citing the decision of the Gujarat High Court in the case of CIT v. Shri Digvijay Cement Co, Ltd. [1986] 159 ITR 253, In this case a claim for development rebate had been made in respect of pontoons and the question was whether the expression ' ship ' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (like wind) did not detract it from being a ship. It follows that the source of power by which the boat or vessel moves, is not the criterion for its classification. In that event, a barge towed by a tug should be considered as a ship or vessel. 8. Arguing for the revenue, Shri Keshaw Prasad relied upon the wordings in clause (a) of section 32A(2) to say that the assessee must have been engaged ..... X X X X Extracts X X X X X X X X Extracts X X X X
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