https://www.taxtmi.com/caselaws?id=192421 Initial depreciation under section 10(2)(vi) of the Income-tax Act, 1922 was denied for diesel engines fitted in motor-lorries because the allowance required the asset to independently qualify as plant or as new machinery installed for business use. Although vehicles were treated as plant for normal depreciation, engines forming part of the vehicle could not be treated as plant for initial depreciation in a taxing statute. The alternative claim also failed because the engines were not a self-contained unit capable of being put to use in the business. The reference was answered in the negative, against the assessee. en-us Tue, 23 Jun 1959 00:00:00 +0530 Wed, 31 May 2017 10:55:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192421 Initial depreciation under section 10(2)(vi) of the Income-tax Act, 1922 was denied for diesel engines fitted in motor-lorries because the allowance required the asset to independently qualify as plant or as new machinery installed for business use. Although vehicles were treated as plant for normal depreciation, engines forming part of the vehicle could not be treated as plant for initial depreciation in a taxing statute. The alternative claim also failed because the engines were not a self-contained unit capable of being put to use in the business. The reference was answered in the negative, against the assessee. Case-Laws Income Tax Tue, 23 Jun 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192421