https://www.taxtmi.com/caselaws?id=11883 For depreciation purposes under section 43(3) of the Income-tax Act, 1961, structural steel and tubular structure used in a manufacturing undertaking were treated as part of "plant and machinery" because the term "plant" receives a wide functional meaning. The structures were owned by the assessee and used integrally in the industrial activity, so they qualified within the statutory concept of plant. On that basis, the assessee was entitled to depreciation at 30 per cent on those structures. The note also clarifies that manufacturing activity need not involve sale of the end product by the assessee itself for the undertaking to retain its manufacturing character. en-us Tue, 22 Apr 2003 00:00:00 +0530 Wed, 10 Feb 2010 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11883 For depreciation purposes under section 43(3) of the Income-tax Act, 1961, structural steel and tubular structure used in a manufacturing undertaking were treated as part of "plant and machinery" because the term "plant" receives a wide functional meaning. The structures were owned by the assessee and used integrally in the industrial activity, so they qualified within the statutory concept of plant. On that basis, the assessee was entitled to depreciation at 30 per cent on those structures. The note also clarifies that manufacturing activity need not involve sale of the end product by the assessee itself for the undertaking to retain its manufacturing character. Case-Laws Income Tax Tue, 22 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11883