Plant — Warehouses, bore wells and electrical installations cannot be considered as “plant” and depreciation to be granted on these assets as per the applicable rate mentioned Appendix 1 of IT Rules, 1962, as held by HydTrib in AP State Warehousing Corpn Ltd v DCIT — In favour of: The assessee (partly).
Depreciation at 100% is allowable on crates and bottles used by soft drink bottlers as the same are considered as “plant”.
Decided on: 22 July 2011.
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