- (1.) THE Income -tax Appellate Tribunal has referred the following questions of law arising out of its order dated February 13, 1986, under Section 256(1) of the Income -tax Act, 1961, in respect of the assessment year 1981 -82 : '1. Whether, on the facts and in the circumstances of the case, the assessee is entitled to depreciation on the copper rolls at 30 per cent. ?
(2.) WHETHER , on the facts and in the circumstances of the case, the assessee is entitled to shortage on copper rolls over and above the depreciation allowed to it on the use of the copper rolls ? Whether, on the facts and in the circumstances of the case, the development charges paid to RIICO is in the nature of capital or revenue ?
(3.) WHETHER , on the facts and in the circumstances of the case, the payment made to RIICO for water -treatment plant is capital or revenue in nature ?;