- (1.) HEARD learned Counsel for the parties.
(2.) THIS appeal is directed against the order of the Tribunal, Jodhpur dt. 10th Oct., 2001 passed jointly for the asst. yrs. 1992 -93 and 1993 -94. At the time of admission, the following questions were framed as substantial questions of law arising from the order of the Tribunal for consideration in this appeal: (1) Whether on the facts and circumstances of the case the Tribunal was legally justified in law in deleting the disallowances of Rs. 1,50,000 made by the AO and confirmed by the CIT(A) even though the assessee failed to establish that the payment made to State Polo Club alleged to be the fee for the sponsorship of Mewar OMS Trophy had any element of publicity or advertisement of its hotel business ? (2) Whether on the facts and in the circumstances of the case Tribunal was legally justified in holding that the assessee is entitled for depreciation on imported motor cars at full rate in spite of specific provisions of Section 32(1)(ii) of the IT Act, even though the assessee is not engaged in the business of cars on hire ? (3) Whether on the facts and circumstances of the case Tribunal was legally justified in holding that the assessee is entitled for higher rate of depreciation on Indian cars even though the assessee is not engaged in the business of running the cars on hire ?
(3.) SO far as question Nos. 2 and 3 are concerned, it is common ground between the parties that these questions stand concluded in favour of the assessee and against the Revenue by a judgment of this Court in CIT v. Lake Palace Hotels and Motels (P) Ltd. in the present assessee's own case for different assessment orders. The claim relates to deduction on depreciation of imported motor cars claimed by the assessee at full rate and in respect of the Indian motors cars at higher rate.;