https://www.taxtmi.com/caselaws?id=13357 The High Court ruled that amounts collected as contingent deposits towards sales tax were part of the assessee's income. Expenditure on partitions, false ceilings, etc., in the assessee's premises was deemed revenue in nature and deductible. Buildings housing safe deposit lockers were considered "plant" eligible for depreciation. Additionally, expenses on false ceilings and partitions in leasehold premises were also classified as revenue in nature and deductible. The Court's decision favored the Revenue on the contingent deposits issue but favored the assessee on the other issues. en-us Tue, 02 Jan 2007 00:00:00 +0530 Thu, 28 May 2009 13:52:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13357 The High Court ruled that amounts collected as contingent deposits towards sales tax were part of the assessee's income. Expenditure on partitions, false ceilings, etc., in the assessee's premises was deemed revenue in nature and deductible. Buildings housing safe deposit lockers were considered "plant" eligible for depreciation. Additionally, expenses on false ceilings and partitions in leasehold premises were also classified as revenue in nature and deductible. The Court's decision favored the Revenue on the contingent deposits issue but favored the assessee on the other issues. Case-Laws Income Tax Tue, 02 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13357