COMMISSIONER OF INCOME TAX Vs. NORPLEX OAK INDIA

JUDGEMENT

(1.) This appeal under Section 260A of the Income-tax Act, 1961 is at the instance of the Revenue and is directed against the order dated 26th June, 2000, passed by the Income-tax Appellate Tribunal, 'E' Bench, Calcutta, in ITA No.2637/Cal/1995, for the Assessment Year 1992-93 thereby setting aside the order of the CIT (Appeals) and granting the benefit of depreciation in favour of the assessee under Section 32 of the Income-tax Act.

(2.) Being dissatisfied, the Revenue has come up with the present appeal. At the time of admission of the present appeal, a Division Bench of this Court admitted this appeal on the following question of law:

(3.) The facts giving rise to filing of the present appeal may be summed up thus: