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Judgment Search Results Home > Cases Phrase: comparative chart of corresponding sections of 1983 act Court: kolkata Year: 1990 Page 1 of about 1 results (0.020 seconds)

Dec 14 1990 (HC)

Commissioner of Income-tax Vs. East India Electric Supply and Traction ...

Court : Kolkata

Decided on : Dec-14-1990

Reported in : [1991]188ITR717(Cal)

..... scheme for simplification effected through the amendment essentially consisted in classifying machinery and plant under seven broad categories, comprising various items according to their estimated lives with seven corresponding rates of depreciation in replacement of the previous seventeen. at one stage of the deliberations, there was a suggestion to altogether do away with the system of granting ..... far from effecting any change in the law, the new section (iv) in the depreciation chart only served to stress the continuityof the law in this regard. the department laboured under a total misconception regarding the nature of the amendment.17. it would be evident from a comparative study of rule 5 prior to its amendment and after ..... . cit : [1974]97itr334(bom) . we, however, considered the rival contentions. at all material times, the assessee was an electric supply undertaking licensed under the indian electricity act, 1910. in terms of the rules framed thereunder, its electric plant was shown in its annual accounts under the heads, transmission plant, distribution plant and public lighting, without particularising ..... position of the assets prepared from several break-up schedules including statement ii of annexure v of the indian electricity rules, 1956, framed under the indian electricity act. the said statement ii of the electricity rules would clearly reveal that the various machineries are accounted for separately, right from the inception, disclosing additions separately and .....

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