COCHIN COMPANY Vs. COMMISSIONER OF INCOME TAX KERALA

JUDGEMENT

(1.) This appeal is brought, by special leave, from the judgment of the High Court of Kerala dated March 26, 1962, in Income- tax Referred Case No. 16 of 1960.

(2.) For the assessment year 1955-56 the appellant, a firm carrying on the business of exporting frozen prawns, made a claim for initial and additional depreciation under sections 10(2)(vi) and 10(2)(via) of the Income Tax Act, 1922, in respect of a one-ton Flake Ice Machine and two reconditioned "Jackstone Junior Frosters Mark II", each of the latter purchased at Pounds 1,338-15-0 from Messrs. Jackstone Frosters Ltd., London, and imported into India and used for its business. In regard to the flake Ice Machine the Income-tax Officer allowed the depreciation. In regard to the reconditioned "Jackstone Junior Frosters Mark II", the suppliers, viz., Messrs. Jackstone Frosters Ltd. of England wrote to the appellant on March 20, 1958, as follows :

(3.) In reply to a further letter from the Income-tax Officer the suppliers wrote on May 19, 1958, thus :