https://www.taxtmi.com/caselaws?id=10189 The High Court ruled in favor of the assessee, upholding the Tribunal's decision to allow 100% depreciation on each shuttering unit as machinery or plant under the Income Tax Act. The Court considered shuttering essential for construction work, treating each unit as an independent component eligible for full depreciation. This decision aligned with previous rulings recognizing shuttering as plant and allowing depreciation. The Court rejected the Department's argument and affirmed that each shuttering unit qualifies for 100% depreciation, settling the matter in favor of the assessee. en-us Tue, 13 Jul 2004 00:00:00 +0530 Fri, 10 Jul 2009 09:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10189 The High Court ruled in favor of the assessee, upholding the Tribunal's decision to allow 100% depreciation on each shuttering unit as machinery or plant under the Income Tax Act. The Court considered shuttering essential for construction work, treating each unit as an independent component eligible for full depreciation. This decision aligned with previous rulings recognizing shuttering as plant and allowing depreciation. The Court rejected the Department's argument and affirmed that each shuttering unit qualifies for 100% depreciation, settling the matter in favor of the assessee. Case-Laws Income Tax Tue, 13 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10189