High Court Of Delhi
CIT vs. J.K. Synthetics Ltd.
A.K. Sikri & Ms. Reva Khetrapal, JJ.
Section 32, 256
Asst. Year 1977-78
IT Ref. No. 21 of 1992
16th August, 2010
Counsel Appeared :
Sanjeev Sabharwal, for the CIT : P.N. Monga & Manu Monga, for the Assessee
JUDGMENT
A.K. Sikri, J. :
The question is as to whether the assessee should have been allowed depreciation at 15 per cent, on plants used in manufacturing of cement and packaging of cement, etc., or at 10 per cent, as done by the AO. The Tribunal allowed the depreciation at 15 per cent, as was done in the previous year as well. This is clear from the following :
“Here we find that this issue was considered by the Tribunal in the assessee’s own case in earlier year. The CIT(A) has allowed depreciation at the rate of 15 per cent on the plant and machinery of the assessee on the basis of the decision of the Tribunal for the asst. yrs. 1975-76 to 1983-84, in ITA Nos. 715/Del/1985 and 795/Del/1987. Respectfully following the decision of the Tribunal, we are of the opinion that no interference is called for.”
Mr. Monga informs that in respect of the asst. yr. 1975-76 the reference was returned unanswered in IT Ref. No. 286 of 1987 because of insubstantial tax effect. This case relates to the asst. yr. 1977-78 and, therefore, the same reasons apply for this assessment year as well. Accordingly, we return this reference unanswered.
[Citation : 328 ITR 6]
