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TAXAP/1193/2009 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 1193 of 2009
=========================================
NIKO
RESOURCES LIMITED - Appellant(s)
Versus
ASSISTANT
COMMISSIONER OF INCOME TAX - Opponent(s)
=========================================
Appearance
:
MR.
S.N.SOPARKAR, SR. ADVOCATE with MS. NITI P. SHETH for MRS
SWATI SOPARKAR for Appellant(s) : 1,
None for Opponent(s) :
1,
=========================================
CORAM
:
HONOURABLE
MR.JUSTICE K.A.PUJ
and
HONOURABLE
MR.JUSTICE RAJESH H.SHUKLA
Date
: 11/01/2010
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE K.A.PUJ)
The
Appellant assessee has filed this Tax Appeal under Section 260A of
the Income Tax Act, 1961 for assessment year 1998-1999, proposing
to formulate the following substantial question of law for
determination and consideration of this Court:
(i) Whether,
in the facts and under the circumstances of the case the Income Tax
Appellate Tribunal was right in law in treating the mineral oil
wells as Buildings for the purpose of applying rate of depreciation
under Section 32 of the Income Tax Act?
Heard
Mr. S.N.Soparkar, the learned Senior Counsel appearing with Ms. Niti
P. Sheth for Mrs. Swati Soparkar, for the appellant and perused the
order passed by the Tribunal.
We
are of the view that substantial question of law does arise out of
the order of the Tribunal and hence, we formulate the above referred
question as the substantial question of law after the Appeal being
admitted.
Notice
to the other side. Additional paper book, if any, to be filed
within three months from today.
(K.A.Puj,J)
(Rajesh
H. Shukla,J)
Jayanti*
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