Specified capital goods list inserted as Ninth Schedule, defining articles eligible under the Income tax Act depreciation provision. The Income-tax Act was amended to insert a Ninth Schedule, effective 1 April 1975, listing specific articles and things brought within the scope of the depreciation-related provision in section 32(1)(vi). The Schedule itemises categories of industrial and production assets - metals, specialised steels and castings, power and electrical equipment, machinery and machine tools, selected fertilisers and chemicals, transport equipment, paper and pulp, sugar, vegetable oils, textiles, cement and refractories - thereby defining which tangible goods are covered by that provision.
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Provisions expressly mentioned in the judgment/order text.
Specified capital goods list inserted as Ninth Schedule, defining articles eligible under the Income tax Act depreciation provision.
The Income-tax Act was amended to insert a Ninth Schedule, effective 1 April 1975, listing specific articles and things brought within the scope of the depreciation-related provision in section 32(1)(vi). The Schedule itemises categories of industrial and production assets - metals, specialised steels and castings, power and electrical equipment, machinery and machine tools, selected fertilisers and chemicals, transport equipment, paper and pulp, sugar, vegetable oils, textiles, cement and refractories - thereby defining which tangible goods are covered by that provision.
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