BINDAL SUGAR WORKS Vs. COMMISSIONER OF INCOME TAX.

JUDGEMENT

(1.) BY this reference application, the assessed is before us with a prayer that the following question, said to be question of law and said to arise out of the consolidated order to the Tribunal bearing ITA Nos. 5699/DEL/85 and 74/DEL/86 dated 14 -6 -1988 be referred to the Honorable court :

(2.) WE have heard the parties, The Tribunal in its order observed that in a number of cases, the Delhi benches on similar set of facts had taken the view that depreciation at 25 per cent on generator is admissible. In our considered opinion, this does not give rise to a referable question of law. Reference application is, Therefore, dismissed. Per Shri S. S. Mehra, Judicial Member - Draft order prepared by my learned Brother has carefully been gone into but it is regretted that I failed to agree with the conclusion arrived at therein. In my considered view a referable question of law does indeed arise from the Tribunal order. I Therefore, proceed to prepare a draft statement of the case for making a reference of the question raised by the applicant.

(3.) THE issue was contested by the assessed and the learned CIT [A] making mention of order dated 12 -2 -1985 for the assessment years 1982 -83 and 1983 - 84 decided the issue in favor of the assessed and directed the learned IAC [Asstt.] to modify the assessment accordingly. A copy of the first appellate order dated 12 -9 -1985 is marked as Annexure B and forms part of the statement of the case.