Decoding "New Machinery or Plant": Technical Purpose Trumps Structural Design in Tax Assessment Criteria
A legal analysis of the term "new machinery or plant" under income tax law reveals specific conditions for classification. The text explores judicial interpretations distinguishing between machinery and plant, emphasizing that buildings are generally not considered plant unless they serve unique technical requirements. Courts have developed a functionality test, determining plant status based on specialized design and operational purpose rather than standard architectural characteristics.
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