Commissioner Of Income-Tax vs Addison And Co. Ltd. on 11 September, 2001

JUDGMENT

R. Jayasimha Babu, J.

1. Counsel for the parties submit that there is no specific finding as to whether a separate reserve had been created or as to whether the credit was made to such a reserve or to a general reserve, and that the matter may therefore be remanded to the Tribunal to record a finding thereon as such a finding is essential before a decision could be rendered as to whether the difference between depreciation allowed and depreciation charged in the books, can be deducted while computing capital base of the company.

2. The Tribunal is therefore, directed to record a finding on that aspect and thereafter decided the matter1.