https://www.taxtmi.com/caselaws?id=71471 The Tribunal upheld the denial of investment allowance and reversed the allowance of depreciation for stallions and mares used in breeding racehorses, following the decision that animals, including horses, do not qualify as plant under the Income-tax Act. The Tribunal also allowed vehicle maintenance expenses claimed by the assessee, emphasizing their necessity for business purposes and commercial expediency. en-us Fri, 11 Dec 1992 00:00:00 +0530 Mon, 25 Apr 2011 10:43:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71471 The Tribunal upheld the denial of investment allowance and reversed the allowance of depreciation for stallions and mares used in breeding racehorses, following the decision that animals, including horses, do not qualify as plant under the Income-tax Act. The Tribunal also allowed vehicle maintenance expenses claimed by the assessee, emphasizing their necessity for business purposes and commercial expediency. Case-Laws Income Tax Fri, 11 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71471