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of <h1>Soft Drink Manufacturer Cannot Claim Value of Bottles as Business Loss; Must Treat as Capital Asset</h1> <h3>Commissioner Of Income-Tax Versus Soft Beverages (P.) Ltd.</h3> Commissioner Of Income-Tax Versus Soft Beverages (P.) Ltd. - [2000] 245 ITR 194, 178 CTR 270 The High Court of Madras ruled that the assessee, a soft drink manufacturer, could not claim the value of bottles as a business loss but should have treated them as a capital asset for depreciation. The Tribunal's decision allowing the loss as a business loss was incorrect. The assessee can now claim depreciation under section 32 of the Income-tax Act for the bottles.
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