https://www.taxtmi.com/caselaws?id=14905 Bottles used for storing and marketing soft drinks were treated as plant, each bottle constituting a separate unit employed in the business. Their true legal character was not changed by the assessee's earlier accounting treatment. As capital assets, the correct tax treatment was depreciation under the Act, not deduction of their value as a business loss. The claimed loss was therefore not allowable as a business loss. en-us Thu, 25 Mar 1999 00:00:00 +0530 Mon, 27 Jul 2009 10:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14905 Bottles used for storing and marketing soft drinks were treated as plant, each bottle constituting a separate unit employed in the business. Their true legal character was not changed by the assessee's earlier accounting treatment. As capital assets, the correct tax treatment was depreciation under the Act, not deduction of their value as a business loss. The claimed loss was therefore not allowable as a business loss. Case-Laws Income Tax Thu, 25 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14905