Appeal from the judgment and order dated October 28, 1964 of the Punjab High Court in I. T. Reference No.
The Judgment of the Court was delivered by Sikri, J. At the instance of the Commissioner of Income Tax,, the Appellate Tribunal, Delhi Bench C, referred the following question Whether the companyt of land is entitled to depreciation under the schedule to the Income tax Act alongwith the companyt of the building standing thereon.?
Veda Vyasa and B. N. Kirpal, for the respondent.
The assessee ap pealed to the Appellate Assistant Commissioner.
The Income Tax Officer initiated proceedings under s. 34 1 b of the Indian Income Tax Act, 1922, on the ground that in the original assessment depreciation was allowed on the entire companyt of Rs.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
for the appellant.
This question arose out of the following facts The respon dent, M s Alps Theatre, hereinafter referred to as the assessee, carries on business as exhibitor of films.
26 of 1966.
The assessee then appealed to the Appellate Tribunal which accepted the appeal.
85,091/ , shown as companyt ,of the building which included Rs.
The Appellate Assistant Commissioner upheld the order of the Income Tax Officer.
12,000/ as companyt of land.
K. Mitra, Gopal Singh, S. P. Nayyar and R. N. Sachthey,.
28 of 1962.
The Income Tax Officer, by his order dated February 22, 1959, recomputed the depreciation, excluding companyt of land.
