https://www.taxtmi.com/caselaws?id=243475 The High Court upheld the Tribunal's decision regarding the depreciation rate on toners, classifying them as gas cylinders eligible for a higher depreciation rate of 60% due to their use in storing and transporting chlorine gas. The Court found no reason to interfere, citing Gas Cylinders Rules and previous judgments supporting the classification. Additionally, the Court affirmed the Tribunal's ruling on computers, recognizing their role in manufacturing activities and allowing for a higher depreciation rate of 60% over the 20% claimed by the Revenue. The Court dismissed the Revenue's appeal, endorsing the treatment of computers as part of plant and machinery. en-us Mon, 20 Jan 2014 00:00:00 +0530 Mon, 03 Feb 2014 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243475 The High Court upheld the Tribunal's decision regarding the depreciation rate on toners, classifying them as gas cylinders eligible for a higher depreciation rate of 60% due to their use in storing and transporting chlorine gas. The Court found no reason to interfere, citing Gas Cylinders Rules and previous judgments supporting the classification. Additionally, the Court affirmed the Tribunal's ruling on computers, recognizing their role in manufacturing activities and allowing for a higher depreciation rate of 60% over the 20% claimed by the Revenue. The Court dismissed the Revenue's appeal, endorsing the treatment of computers as part of plant and machinery. Case-Laws Income Tax Mon, 20 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243475