VINOD KUMAR MISRA,J. - (1.) Commissioner of Income Tax, Meerut and Joint Commissioner of Income Tax, Special Range, Ghaziabad have preferred this appeal under Section 260A of the Income Tax Act, 1961 against M/s Jindal Ployster Ltd., 19th Km. Hapur Bulandshahr Road, Gulaethi against the judgment and order dated 6.1.2006 passed by the Income Tax Appellate Tribunal in Appeal No. 4020/DEL/2001.
(2.) On 11.5.2017 after formulating the three substantial questions of law in this appeal the judgment was reserved. The substantial questions of law are as follows:" (1) Whether the custom duty paid on the purchase of plant and machinery would be a capital or a revenue expenditure? (2) Whether the depreciation on the purchase of plant and machinery is admissible on the actual cost of the plant and machinery excluding the custom duty, which was paid subsequent? and (3) Whether the Income Tax Appellate Tribunal was justified in returning a finding on the question of deduction permissible on account of revenue expenditure even though no such plea was raised before it?"
(3.) We have heard Sri Subham Agarwal, learned counsel for the department and Sri Rupesh Jain, learned counsel for the assessee, respondent.;