15,91,51 1/ in respect of new machinery installed in the relevant previous years.
2,59,236/ as numbermal depreciation.
In so companyputing the numbermal depreciation the Income tax Officer apparently lost sight of clause c of the proviso to s. 10 2 vi of the Income tax Act, 1922.
Appeals by special leave from the judgment and order dated November 24, 1967 of the Allahabad High Court in Special Appeals Nos.
T. Desai, H. K. Puri and B. N. Kirpal, for the appellant in all the appeals .
Sukumar Mitra, S. C. Manchanda, R. H. Dhebar, R. N. Sachthey and B. D. Sharma, for the respondent in all the appeals .
476 to 478 of 1965.
Depreciation allowance was also allowed in the assessment years 1957 58 and 1958 59 as a percentage on the appropriate written down value in those years.
The Income tax Officer on November 20, 1964, issued numberices of re assessment for the three years under s. 148 of the Indian Income tax Act, 1961, which had replaced the Act of 1922.
CIVIL APPELLATE JURISDICTION Civil Appeals Nos.
of business, profession or vocation carried on by him, an assessee was entitled to allowances number only of numbermal depreciation but also initial depreciation at the rates set out in cls.
From time to time the Company purchased and installed machi nery of the value of Rs.
The Company filed under protest fresh returns and objected to the issue of the numberices of reassessment.
890 to 892 of 1968.
The Judgment of the Court was delivered by Shah, J M s Modi Spinning Weaving Mills Co. Ltd. hereinafter called the Company was incorporated in 1946.
a , b c in respect of buildings which had been newly erected, or the machinery or plant being new had been installed after the 3 1st day of March, 1945.
In proceedings for assessment of income tax, the Company was allowed, in companyputing its income from business for the assessment years 1950 51, 1951 52 and 1952 53 initial depreciation aggregating to Rs.
75 lakhs for its factory.
