GEORGE MATHEW Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Madras A-Bench has referred the following question to the High Court under Section 66(1) of the Indian Income-tax Act:

(2.) THE assessee is a transport operator with a fleet of eight buses. During the accounting year ending on 16-8-1954 he purchased two new diesel engines, one on 16-3-1954 for Rs. 9990/- and the other on 15-7-1954 for Rs. 9946/-. THEse engines were installed in two buses in replacement of the petrol engines and for the accounting year ending on 16-8-1954 she claimed normal depreciation under Section 10(2)(vi) paragraph (1), initial depreciation under Section 10 (2) (vi) Paragraph (2) and extra depreciation under Section 10(2)(via).

(3.) IN support of his above contentions the assessee's learned counsel has drawn our attention to a decision of the Privy Council in Corporation or Calcutta v. Chairman of the Cossipore and Chitpore Municipality, AIR 1922 PC 27. Therein Lord Atkinson observes that