https://www.taxtmi.com/caselaws?id=12085 The court ruled in favor of the Revenue, setting aside the Tribunal and Commissioner's orders, and restoring the Assessing Officer's decision to disallow the higher depreciation rate for the drilling machines. The judgment highlighted the necessity of meeting specific criteria like manufacturing, production, or construction to qualify for special depreciation rates, emphasizing strict adherence to statutory requirements when claiming tax benefits related to machinery depreciation. en-us Tue, 02 Jul 2002 00:00:00 +0530 Tue, 16 Feb 2010 19:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12085 The court ruled in favor of the Revenue, setting aside the Tribunal and Commissioner's orders, and restoring the Assessing Officer's decision to disallow the higher depreciation rate for the drilling machines. The judgment highlighted the necessity of meeting specific criteria like manufacturing, production, or construction to qualify for special depreciation rates, emphasizing strict adherence to statutory requirements when claiming tax benefits related to machinery depreciation. Case-Laws Income Tax Tue, 02 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12085