2/ 2 The appellant assessee is a private limited cfxompany engaged in the manufacture and sale of Orthopaedic appliances.
Being aggrieved by the assessment order, the assessee took up the matter before the Commissioner of Income Tax Appeals I.T. A , for short, who came to the companyclusion that the assessee was a private limited companypany.
In the Profit and Loss Account, depreciation was provided at the rates specified in Rule 5 of the Income Tax Rules, 1962 Rules, for short.
While companypleting the assessment of income, the Assessing Officer re computed the book profit for the purpose of Section 115J of the Income Tax Act, 1961, Act, for short, after allowing depreciation as per Schedule XIV to the Companies Act.
In the Return of Income filed, the assessee returned an income of Rs.1,50,730/ .
H. KAPADIA,J. A short question which arises for determination in this civil appeal is whether the Income Tax Appellate Tribunal was, on the facts and circumstances of this case, justified in upholding the order of the Commissioner of Income Tax Appeals directing the Assessing Officer to allow the claim of depreciation as per the Income Tax Rules, 1962, for the purposes of companyputing the book profit under Section 115J of the Income Tax Act, 1961?
In this civil appeal, we are companycerned with Assessment Year 1990 1991.
