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Citation: 1971 PTD 245
Court: Calcutta High Court
Year: 1967
Decision Date: 1967-07-14
Parties: COMMISSIONER OF INCOME-TAX vs CALCUTTA TRAMWAYS Co. LTD.
Case cited as 1971 PTD 245
Court Name: Calcutta High Court Judge(s): B. N. Banerjee, K. L. Roy Title: COMMISSIONER OF INCOME-TAX vs CALCUTTA TRAMWAYS Co. LTD. Case No.: Income-tax Reference No. 93 of 1963 Date of Judgment:1967-07-14 Reported As: 1971 PTD 245 Result: Question answered in affirmative JUDGMENT JUDGMENT K. L. ROY, J.-This is a reference under section 66(1) of the Indian Income-tax Act, 1922 (hereinafter referred to as the Act). The assessee is the Calcutta Tramways Company Limited and the assessment year concerned in this reference is 1958-59, the corresponding accounting year being the calendar year ending 31st December 1957. During the accounting year the assessee-company installed new bodies on the old chassis of its tram cars which it plies in the City of Calcutta. Over and above the normal depreciation, additional, depreciation and development rebate under sections 10(2)(via) and 10(2) (vib) of the Act were claimed in respect of the cost thereof. The Income--tax Officer allowed only normal depreciation taking the entire tram car plus the chassis as one unit and disallowed the claims for additional depreciation and development rebate. On appeal against the order of assessm ent by the assessee, the Appellate Assistant Commissioner allowed the claim for additional depreciation but disallowed the claim for development rebate. Both the assessee and the Department appealed to the Tribunal against the aforesaid order of the Appellate Assistant Commis--sioner, the Department claiming that…
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