- (1.) THIS order will dispose of IT Appeal Nos. 626 to 629 of 2005. However, the facts are being taken from IT Appeal No. 626 of 2005.
(2.) THE assessee has approached this Court by filing the present appeal, raising the following substantial questions of law arising out of order passed by the Tribunal, Chandigarh Bench 'B' (for short 'the Tribunal'), in ITA No. 219/Chd/2001, dt. "Whether in the facts and in the circumstances of the case, the learned Tribunal has not erred in law in disallowing that the payments made in respect of bonus, gratuity and CPF, which are statutory in nature and were defrayed for meeting statutory obligations irrespective of the purpose for which these were incurred ?
(3.) WITHOUT prejudice to the above, whether in facts and in the circumstances of the case, the learned Tribunal has committed an error of jurisdiction in holding that the depreciation on the assets located at the agricultural farm, but used for business purposes as well was not allowable deduction - 143(2) of the Act was issued for regular assessment. The claim of the assessee for depreciation of Rs. 10,38,084 on the assets of Hissar Farm was disallowed, keeping in view the provisions of s. 32 of the Act. Certain expenses relating to Hissar Farm debited in the account of the head office were reduced from the income of the farm. Having failed in its appeal before the Commissioner of Income -tax (Appeals) [for short 'CIT(A)'], the assessee went in which is assailed in the present appeal.;