PARTHAS TRUST Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE following two questions have been, at the instance of the assessee, referred to us by the Income-tax Appellate Tribunal, Cochin Bench :

(2.) WHETHER, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee is not entitled to depreciation on the immovable property which has not been transferred to the assessee by the previous owner by a registered deed of conveyance ? "

(3.) ON appeal by the assessee, the Commissioner of Income-tax (Appeals), relying on the decision of the Full Bench of this court in CIT v. E. C. Jacob [1973] 89 ITR 88 and certain other decisions, held that :