Data Network Cables - Whether Plant and Machinery

[sathyanarayanan kasinathan]

Whether Data Networking cables can be classified as plant and machinery alongwith Routing equipments under the  Income Tax Act classifications. Whether any decisions available.

AI Summary

Determining if Data Networking Cables Qualify as Plant and Machinery Under Income Tax Act for Capital Asset Classification A query was raised about whether data networking cables could be classified as plant and machinery under the Income Tax Act, alongside routing equipment. The response suggested that if the cables are part of a new setup and system development, they should be considered a capital asset. Otherwise, they might be classified under current repairs. This discussion was aimed at clarifying the classification for tax purposes.