Income Tax Appellate Tribunal Itat Amritsar Court August 1982 Judgments Home Cases Income Tax Appellate Tribunal Itat Amritsar 1982 Page 1 of about 1 results (0.021 seconds)

Deluxe Co-operative Transport Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (1983)3ITD297(Asr.)

1. The assessee is in appeal against the order of the Commissioner, Jullundur, for assessment year 1978-79. The only issue raised in this appeal is regarding a claim for depreciation in respect of a new bus No. PUX 905. According to the assessee, he had put this bus on road and made some income which he showed in the return for the year in issue.The ITO disbelieved the assessee's claim and he declined to entertain a claim in respect of the depreciation. According to the ITO, the bus was purchased on 28-4-1977, for a consideration of Rs. 1,03,038.37. The chassis was fabricated in the following month when a bill dated 20-6-1977 was handed to assessee by Sutlej Coach Builders for Rs. 34,000. This vehicle was registered only on 14-7-1977 after the accounting year in issue had ended on 30-6-1977. According to the ITO, no road tax for this vehicle had been paid during the year in issue in respect of which assessee is claiming depreciation. According to the ITO, assessee could ply the bus on...