COMMISSIONER OF INCOME-TAX Vs. HINDUSTAN NEWSPRINT LTD.

JUDGEMENT

(1.) The question raised in the appeal filed by the revenue is whether the Tribunal was justified in confirming the order of the first appellate authority granting additional depreciation under Section 32(1)(iia) of the Income-tax Act, 1961.

(2.) We have heard standing counsel appearing for the appellant.

(3.) The respondent is a public sector company under Central Government engaged in manufacture and sale of newsprint. The plant in respect of which additional depreciation is claimed is a de-inking plant in which pulp is made from waste paper. The relevant provision under which the claim was made is extracted hereunder for easy reference: