https://www.taxtmi.com/caselaws?id=123062 The Tribunal upheld the CIT(A)'s decision to allow 25% depreciation for office interiors used for exhibition purposes by a partnership firm engaged in interior designing. The Tribunal considered the interiors as "plant" essential for business operations rather than mere 'furniture and fittings,' dismissing the Revenue's appeal and emphasizing the business-centric approach in determining depreciation rates based on the assets' role within the firm's operations. en-us Fri, 11 Sep 2009 00:00:00 +0530 Sat, 01 Sep 2012 11:16:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123062 The Tribunal upheld the CIT(A)'s decision to allow 25% depreciation for office interiors used for exhibition purposes by a partnership firm engaged in interior designing. The Tribunal considered the interiors as "plant" essential for business operations rather than mere 'furniture and fittings,' dismissing the Revenue's appeal and emphasizing the business-centric approach in determining depreciation rates based on the assets' role within the firm's operations. Case-Laws Income Tax Fri, 11 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123062