COMMISSIONER OF INCOME TAX vs. GOYAL MG GASES LTD.

ITA - 413 / 2007HC Delhi01 May 20071 pages

For Petitioner: PREM LATA BANSAL

AI SummaryDismissed

What did the High Court hold?

The High Court held that the tankers mounted on vehicles are cylinders. This decision was based on a prior judgment of the same Court in the case of the same assessee (ITA No. 17/05 and ITA No. 17/2000 decided on 12th January, 2006). In that earlier case, the Court had ruled that these tankers are cylinders and consequently entitled to 100% depreciation. Therefore, the High Court found no substantial question of law arising from the Tribunal's order and dismissed the appeal. The operative direction was the dismissal of the Revenue's appeal.

What were the facts?

The Revenue is aggrieved by an order dated nil passed by the Income Tax Appellate Tribunal, Delhi Bench 'B' in ITA No.4515/Del/2004 for the assessment year 2001-2002. The assessee is Goyal MG Gases Ltd. The dispute concerns whether tankers mounted on vehicles are to be considered cylinders for the purpose of depreciation. The Tribunal had previously ruled in favor of the assessee in a related matter concerning the same assessee, holding that these tankers are indeed cylinders and thus eligible for 100% depreciation. The present appeal by the Revenue challenges this finding.

What were the issues?

1. Whether the Tribunal was correct in law in holding that tankers mounted on vehicles are cylinders. (Question of law) Assessee's Contention: The assessee argued that the tankers mounted on vehicles are cylinders and therefore entitled to 100% depreciation. This contention was supported by a previous decision of the High Court in the case of the same assessee. Revenue's Contention: The Revenue is aggrieved by the Tribunal's order and implicitly challenges the finding that the tankers are cylinders. The judgment does not explicitly record the Revenue's specific arguments beyond their appeal against the Tribunal's order.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF DELHI AT NEW DELHI . ITA 413/2007 . COMMISSIONER OF INCOME TAX ..... Appellant Through Ms. P.L. Bansal with Mr. Vishnu Sharma, Advs. versus GOYAL MG GASES LTD. ..... Respondent Through None. CORAM: HON'BLE MR. JUSTICE MADAN B. LOKUR HON'BLE MR. JUSTICE V. B. GUPTA . O R D E R 01.05.2007 The Revenue is aggrieved by an order dated nil passed by the Income Tax Appellate Tribunal, Delhi Bench 'B' in ITA No.4515/Del/2004 relevant for the assessment year 2001-2002. The only issue raised in this appeal is whether the Tribunal was correct in law in holding that the tankers mounted on vehicles are cylinders or not. The Tribunal relied upon a decision of this Court in the case of the same Assessee being ITA No. 17/05 and ITA No. 17/2000 decided on 12th January, 2006 wherein it was held by this Court that ITA 413/2007 Page 1 of 2 these tankers are cylinders and therefore entitled to 100% depreciation. In view of the above, no substantial question of law arises. Dismissed. . . . MADAN B. LOKUR, J . . V. B. GUPTA, J MAY 01, 2007 rs . . . . . . . . ITA 413/2007 Page 2 of 2

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