https://www.taxtmi.com/caselaws?id=179466 For depreciation under Appendix I to the Income-tax Rules, 1962, the relevant test is whether the asset answers the description of an aeroplane, not its size or passenger capacity. An aircraft with fixed wings and propulsion by jets or propellers falls within the specific aeroplane entry and is not confined to the general plant and machinery category. The Tribunal followed its earlier view, which had been affirmed by the jurisdictional High Court, and found no contrary material. Accordingly, the assessee was entitled to depreciation at 40% on the aircraft, and the Revenue's challenge to the depreciation rate failed. en-us Fri, 26 Apr 2013 00:00:00 +0530 Wed, 02 Mar 2016 16:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179466 For depreciation under Appendix I to the Income-tax Rules, 1962, the relevant test is whether the asset answers the description of an aeroplane, not its size or passenger capacity. An aircraft with fixed wings and propulsion by jets or propellers falls within the specific aeroplane entry and is not confined to the general plant and machinery category. The Tribunal followed its earlier view, which had been affirmed by the jurisdictional High Court, and found no contrary material. Accordingly, the assessee was entitled to depreciation at 40% on the aircraft, and the Revenue's challenge to the depreciation rate failed. Case-Laws Income Tax Fri, 26 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179466