SONESHWARE COLD STORAGE Vs. ASST C I T

JUDGEMENT

(1.) BY way of this appeal, the assessee has felt aggrieved by the order of the Income Tax Appellate Tribunal, Ahmedabad Bench "B", Ahmedabad in ITA No. 4283/AHD/96 for AY 1991 - 92.

(2.) WHILE admitting this appeal, this Court has framed the following substantial question of law:

(3.) THE brief facts of the present case are that the appellant is a partnership firm and it is engaged in the business of running cold storage at Deesa (B.K.). The appellant had filed its return of income for AY 1991 -92 on 28th August, 1991 declaring total loss of Rs. 1,89,123/ - wherein the appellant had claimed inter alia depreciation at a rate of 33.33% in respect of cold storage building treating as a plant within the meaning of section 32 of the Income Tax Act, 1961. During the assessment proceedings u/s. 143(3), the AO denied the claim of depreciation on the cold storage as a plant, but he treated it as a building and accordingly allowed depreciation at a rate of 15%.