COMMISSIONER OF INCOME TAX Vs. SAKTHI SUGARS LIMITED

JUDGEMENT

(1.) TWO questions have been referred to this court, one at the instance of the Revenue and the other at the instance of the assessee. The question that has been referred to us at the instance of the Revenue is.

(2.) AN identical question came up for consideration before this court in the case of CIT v. Salem Co-operative Sugar Mills Ltd. [1998] 229 ITR 285 wherein it was held that (headnote) :

(3.) THE ratio of the abovesaid judgment is applicable to the case on hand and as such the assessee is not entitled to the depreciation as claimed and, therefore, the second question referred to us is answered in the affirmative in favour of the Revenue and against the assessee.