https://www.taxtmi.com/article/detailed?id=7242 Whether a building can be treated as plant hinges on the functional test: if a structure is specially designed and integrally used as a tool of the business, performing operational functions of manufacture or services, it may qualify as plant despite the statutory exclusion of buildings. Applying this, the High Court found a factory building constructed solely for manufacturing to be plant and eligible for the higher depreciation rate, relying on prior assessment findings and the building's specialised functional role. en-us Tue, 31 Jan 2017 06:38:52 +0530 Tue, 31 Jan 2017 06:38:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7242 Whether a building can be treated as plant hinges on the functional test: if a structure is specially designed and integrally used as a tool of the business, performing operational functions of manufacture or services, it may qualify as plant despite the statutory exclusion of buildings. Applying this, the High Court found a factory building constructed solely for manufacturing to be plant and eligible for the higher depreciation rate, relying on prior assessment findings and the building's specialised functional role. Articles Income Tax Tue, 31 Jan 2017 06:38:52 +0530 https://www.taxtmi.com/article/detailed?id=7242