https://www.taxtmi.com/caselaws?id=7176 New tram-car bodies fitted on old chassis were treated as plant or machinery in their own right for depreciation-related allowances, because the statutory definition of plant was broad enough to cover vehicles and similar equipment. The special depreciation schedule for electric tramways also recognised car bodies as separately depreciable items, supporting the same character for allied allowances. On that basis, the installed bodies were regarded as distinct components qualifying for additional depreciation and development rebate. en-us Fri, 14 Jul 1967 00:00:00 +0530 Thu, 12 Feb 2009 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7176 New tram-car bodies fitted on old chassis were treated as plant or machinery in their own right for depreciation-related allowances, because the statutory definition of plant was broad enough to cover vehicles and similar equipment. The special depreciation schedule for electric tramways also recognised car bodies as separately depreciable items, supporting the same character for allied allowances. On that basis, the installed bodies were regarded as distinct components qualifying for additional depreciation and development rebate. Case-Laws Income Tax Fri, 14 Jul 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7176