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TAXAP/28/2009 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 28 of 2009
======================================
THE
COMMISSIONER OF INCOME TAX-II
Versus
GUJARAT
LEASE FINANCING LTD.
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Appearance :
MRS
MAUNA M BHATT for Appellant
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CORAM
:
HONOURABLE
MR.JUSTICE K.A.PUJ
and
HONOURABLE
MR.JUSTICE RAJESH H.SHUKLA
Date
: 01/02/2010
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE K.A.PUJ)
1 The
Commissioner of Income Tax-II, Ahmedabad, has filed this Tax Appeal,
under Section 260-A of the Income Tax Act, 1961, for Assessment Year
1992-1993, proposing to formulate the following substantial question
of law for determination and consideration of this Court.
Whether
the Appellate Tribunal is right in law and on facts in holding that
though the Assessee was not owner of the gas turbine/steam turbine
itself but only the owner of boilers and other identifiable parts,
depreciation at the rate of 100% was allowable?
2 Heard
Mr. Manish R. Bhatt, learned Senior Counsel with Mrs. Mauna M. Bhatt,
appearing for the Revenue and perused the orders passed by the
authorities below.
3 We
are of the view that the substantial question of law does arise
out of order of the Tribunal and, hence, we ADMIT
this Appeal and formulated the following the
substantial question of law for determination and consideration
of this Court.
Whether
the Appellate Tribunal is right in law and on facts in holding
that the Assessee is entitled to depreciation at the rate of 100% on
identifiable parts on gas turbine/steam turbine?
5 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.)
pnnair
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