Dipak Kumar Sen, J. - (1.) M/s. Russel Properties Pvt. Ltd., the assessee, sold a building and land together with lifts, transformers, tubewells and other assets therein in the assessment year 1973-74. The original cost of the said assets was Rs. 16,13,596 for the land and building and that of lifts, transformers and tube-wells was Rs. 2,15,763.
(2.) The consideration for the sale was Rs. 18,00,000.
(3.) At the time of assessment, the Income-tax Officer found that the written down value of the lifts, transformers and tubewells in the relevant assessment year was Rs. 1,09,555.;