https://www.taxtmi.com/caselaws?id=11130 Sanitary pipeline fittings installed in a cinema hall were held to be "plant" for depreciation purposes because the decisive test under the Income-tax Act is the true character of the asset, not merely its location in a building. The term "plant" in section 43(3) is wide, but a building does not become plant simply because it is used for business; only articles or fittings functioning as business apparatus or tools qualify. Applying the principles approved by the Supreme Court and distinguishing the later clarification in Anand Theatres, the fittings were treated as part of the business apparatus rather than the building. Depreciation at the higher rate was therefore allowed in favour of the assessee. en-us Thu, 29 Aug 2002 00:00:00 +0530 Fri, 31 Jul 2009 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11130 Sanitary pipeline fittings installed in a cinema hall were held to be "plant" for depreciation purposes because the decisive test under the Income-tax Act is the true character of the asset, not merely its location in a building. The term "plant" in section 43(3) is wide, but a building does not become plant simply because it is used for business; only articles or fittings functioning as business apparatus or tools qualify. Applying the principles approved by the Supreme Court and distinguishing the later clarification in Anand Theatres, the fittings were treated as part of the business apparatus rather than the building. Depreciation at the higher rate was therefore allowed in favour of the assessee. Case-Laws Income Tax Thu, 29 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11130