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of <h1>Definition of 'Plant' in Income Tax Act: Includes Ships, Vehicles, Equipment; Excludes Buildings, Furniture, Livestock. Section 44BB Clarification.</h1> In the context of the Income Tax Act 1961, the term 'plant' encompasses ships, vehicles, books, scientific apparatus, and surgical equipment used for business or professional purposes, but excludes tea bushes, livestock, buildings, and furniture. For section 44BB of the Income Tax Act 1931, 'plant' further includes ships, aircraft, vehicles, drilling units, scientific apparatus, and equipment used for business purposes.
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