https://www.taxtmi.com/caselaws?id=220347 The court denied the assessee's claim for a higher rate of depreciation on moulds and moulding tools for manufacturing plastic goods, emphasizing the requirement for a recognized separate unit dedicated to plastic goods manufacturing to qualify for the increased depreciation rate. The court directed a reassessment by the Assessing Officer to verify the unit's recognition status for granting the depreciation relief, aligning with established legal principles. The judgment underscores the importance of clear evidence and recognition of separate manufacturing units to support claims for favorable depreciation rates, ensuring consistent application of tax laws. en-us Mon, 03 Sep 2012 00:00:00 +0530 Mon, 21 Jan 2013 07:43:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220347 The court denied the assessee's claim for a higher rate of depreciation on moulds and moulding tools for manufacturing plastic goods, emphasizing the requirement for a recognized separate unit dedicated to plastic goods manufacturing to qualify for the increased depreciation rate. The court directed a reassessment by the Assessing Officer to verify the unit's recognition status for granting the depreciation relief, aligning with established legal principles. The judgment underscores the importance of clear evidence and recognition of separate manufacturing units to support claims for favorable depreciation rates, ensuring consistent application of tax laws. Case-Laws Income Tax Mon, 03 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220347