ARIJIT PASAYAT, C. J.

( 1 ) IN this appeal under Section 260-A of the Income-tax Act 1961 (in short the Act) order of the Income-tax Appellate Tribunal. New Delhi (in short Tribunal ) in ITA No. 6110/d/95 dated 16th December 1998 is under challenge, in respect of the question as regards the rate of depreciation on the bottles given on lease to another concern. The dispute relates to assessment year 1987-88.

( 2 ) FACTUAL position which is almost undisputed is as follows: Assessee company supplies bottles to other concerns on lease basis. For the relevant assessment year, depreciation was claimed on bottles valued of Rs. 14,99,508. 00/- @ 100%. However the assessing Officer allowed depreciation @ 15% under the first proviso to Section 32 (i) of the Act. For disallowing assessee s claim of depreciation @ 100%, it was observed that though bottles were plant, each bottle cannot constitute plant and only all the bottles which were acquired can be taken as plant. Reference was made to purchases on several dates to hold that the value of bottles, treated as "plant" purchased on the relevant dates exceeded Rs. 50003. 00. Ultimately he held that each bottle did not constitute a plant and al

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