2001 PLP 1416 (PTD)
COMMISSIONER OF INCOME‑TAX Versus SRINIVASA HATCHERIES (P.) LTD.
| Citation | 2001 PLP 1416 (PTD) |
| Forum / Court | 245 ITR 8 |
| Bench Members | S. P. Bharucha and Mrs. Ruma Pal, JJ |
| Parties | COMMISSIONER OF INCOME‑TAX Versus SRINIVASA HATCHERIES (P.) LTD. |
Q1: What are the key laws and sections cited in 2001 PLP 1416 (PTD)?
This judgment primarily cites: statutory provisions as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2001 PLP 1416 (PTD)?
The case was heard and decided by the 245 ITR 8 bench comprising: S. P. Bharucha and Mrs. Ruma Pal, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2001 PLP 1416 (PTD) (COMMISSIONER OF INCOME‑TAX Versus SRINIVASA HATCHERIES (P.) LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Headnotes / Summary
Income‑tax‑‑‑ ‑‑‑‑Reference‑‑‑Depreciation‑‑‑Plant‑‑‑Building‑‑‑Poultry sheds whether plant entitled to a higher rate of depreciation‑‑‑Question of law‑‑‑Indian Income Tax Act, 1961, Ss.32 &
256. Held, that the question whether, on the facts and in the circumstances of the case, the poultry sheds should be treated as plant thereby allowing the assessee‑company a higher rate of depreciation as applicable to plant and not the rate of depreciation as applicable to building, was a question of law to be referred to the High Court.
Judgment & Decree
Delay condoned. Leave granted. The High Court, by the order under challenge, declined to call upon the Income‑tax Appellate Tribunal to refer to it the following question on the ground that the Tribunal had followed the High Court's judgment in the case of CIT v. Sri Venkateshwara Hatcheries (P.) Ltd.: "Whether, on the facts and it the circumstances of the case, the poultry sheds should be treated as plant thereby allowing the assessee‑company a higher rate of depreciation as applicable to plant and not the rate of depreciation as applicable to building?" We are informed that the judgment of the High Court in the said case of CIT v. Sri Venkateshwara Hatcheries (P.) Ltd. was brought to this Court but the special leave petition was dismissed on the ground of delay. It appears to us clear that a question of law is involved and that, therefore, the High Court ought to have required the Tribunal to refer to it the aforestated question. The High Court then would be entitled to consider the question on the merits and take the earlier judgment in the case of CIT v. Sri Venkateshwara Hatcheries (P.) Ltd. into account. The appeal is allowed. The order under appeal is set aside. The aforesaid question shall be referred by the Tribunal to the High Court for its decision, after drawing up a statement of case. No order as to costs. M.B.A./480/FC Appeal allowed.