https://www.taxtmi.com/caselaws?id=125886 The appeal was allowed, granting the assessee the benefit of higher depreciation at 50% on their Plant and Machinery used in texturising and twisting of yarn. The Appellate Tribunal held that texturising and twisting activities are part of processing in the textile industry, qualifying for the higher depreciation rate, contrary to the Assessing Officer and Commissioner of Income Tax's decisions. The Tribunal emphasized that the rules encompass processing activities beyond weaving and processing of cloth, supporting the assessee's claim for increased depreciation. en-us Fri, 09 Jul 2010 00:00:00 +0530 Wed, 31 Oct 2012 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125886 The appeal was allowed, granting the assessee the benefit of higher depreciation at 50% on their Plant and Machinery used in texturising and twisting of yarn. The Appellate Tribunal held that texturising and twisting activities are part of processing in the textile industry, qualifying for the higher depreciation rate, contrary to the Assessing Officer and Commissioner of Income Tax's decisions. The Tribunal emphasized that the rules encompass processing activities beyond weaving and processing of cloth, supporting the assessee's claim for increased depreciation. Case-Laws Income Tax Fri, 09 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125886