The Commissioner Of Income Tax v. M/S Jalandhar Mill Stores

IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH. I.T.A. No.128 of 2000 Date of decision: 18.11.2010 The Commissioner of Income Tax. Vs. M/s Jalandhar Mill Stores. -----Appellant. -----Respondents CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOELHON'BLE MR. JUSTICE AJAY KUMAR MITTAL Present:-Mr. Vivek Sethi, Standing Counselfor the appellant. --- ADARSH KUMAR GOEL, J. This appeal has been preferred by the revenue underSection 260-A of the Income Tax Act, 1961 (for short, “the Act”)against the order of the Income Tax Appellate Tribunal, Amritsardated 21.2.2000 in I.T.A. No.486(ASR)/1994 for the assessmentyear 1992-93 proposing to raise following substantial questions oflaw:- “1.Whether, on the facts and in the circumstances of thecase, the Ld. Tribunal was right in law in allowingdepreciation on gas cylinders ignoring that trading ingas was not the business of the assessee for theasstt. year 1992-93?”case, the Ld. Tribunal was right in law in allowingdepreciation on gas cylinders ignoring that trading ingas was not the business of the assessee for theasstt. year 1992-93?” 2.Whether, on the facts and in the circumstances of thecase, the Ld. ITAT was right in law in dismissing theappeal of the Revenue whereby affirming the actioncase, the Ld. ITAT was right in law in dismissing theappeal of the Revenue whereby affirming the action of the Ld. CIT(A) holding that the assessee’s case iscovered by Ist Proviso to sec.32(1) of the Income-taxAct, 1961 and as such, 4[th] Proviso thereto is notapplicable in respect of the case falling under the Istproviso thereto?” Learned counsel for the revenue fairly states that thematter is covered against the revenue by order of this Court dated27.9.2007 in I.T.A. No.141 of 1996 CIT v. Suresh SehgalProp.M/s Sehgal Gas Supply Company. Accordingly, the appeal is dismissed. (ADARSH KUMAR GOEL) JUDGE November 18, 2010ashwani (AJAY KUMAR MITTAL) JUDGE