Law: Income Tax Act, 1922

Section: 10,10(2)(vi)

[Income Tax Act. 1922 (XI of 1922)]..........Section 10(2)(vi)-Depreciation Assessee a transferee of an evacuee cotton factory with Provisional Transfer Order in his favour--Provisional Transfer Order conferring certain rights on the assessee subject to certain conditions. assessee whether entitled to depreciation-Held yes-Settlement Scheme No. 1, Chap. VII, para 37 (ii). Case referred to :- Rahim Baksh v. Ch. Ahmad Baksh and others (P.L.D. 1964 S.C. 189) JUDGMENT [The judgment of the Court was delivered by SHAMEEM HUSSAIN KADRI J.]-This order will dispose of Tax References 226 and 185 of 1971 as well. Tax Reference No. 226 of 1971 relates to the Assessment Years 1962-63 and 1963-14, Tax Reference No. 185 of 1971 refers to the Assessment Year 19c4-65 and Tax Reference No. 117 of 1971 concerns the Assessment Year 1965-66. 2. The assessee in these reference is a transferee of an evacuee concern Dhanpatmal Jawala Dass Cotton Factory, Lyallpur, with a P.T.O. in their favour. The A. O. P consists often partners. The assessee claimed depreciation in respect of machinery under Section 10 (2) (vii) of the income Tax Act. The Income Tax Officer rejected the claim of the assessee on the ground that the property has not been permanently transferred and does not vest in them. He passed the order for the Assessment Year 1962-63 on 30th June 1967 and for the Assessment Year 1963-64 on 30th June 1968. Two appeals were filed by the assessee before the Appellate Assistant Commissioner which were rejected by him as per consolidated order dated 2nd October 1968. The Tribunal accepted the appeal of the assessee on 25th June 1969. 3. In Tax Reference No. 117 of 1971, the Income Tax Officer passed the order rejecting the claim on 16th June 1970. The appeal was accepted by the Appellate Assistant Commissioner on 15th December 19"0 and the Tribunal dismissed the appeal of the department on 7th May 1971. 4. In Tax Reference No 188 of 1971 for the assessment Year 1964-65 the claim was rejected by the Income Tax Officer by order which is not dated, However, the appeal of the assessee before the Appellate Assistant Commissioner failed on this point on 3rd June 1969. The second appeal of…

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