COMMISSIONER OF INCOME-TAX Vs. AMOL DICALITE LTD.

JUDGEMENT

(1.) THE Income -tax Appellate Tribunal has referred to this court the following two questions for opinion in terms of Section 256(1) of the Income -tax Act, 1961 (hereinafter referred to as the 'Act'). Those two questions are as under:

(2.) BEFORE this court addresses itself to the legal position on the subject, a few facts may first be noticed.

(3.) FEELING aggrieved the assessee preferred an appeal before the Commissioner of Income -tax (Appeals) who directed the Assessing Officer not to deduct the amount of subsidy from the cost of the assets for the purpose of calculation of depreciation and also directed the Assessing Officer to treat the ore shed as plant and allow appropriate depreciation and extra shift allowance.