https://www.taxtmi.com/caselaws?id=16771 The High Court of Madhya Pradesh directed the Tribunal to gather evidence to determine if each plate of centering material could be considered a plant for depreciation purposes under section 32 of the Income-tax Act, 1961, remanding the case for further examination and fresh decision. The dispute arose when the Assessing Officer restricted depreciation to 33.33%, which was later upheld by the Commissioner of Income-tax (Appeals) based on a precedent from the Income-tax Appellate Tribunal. The Department argued that centering material should be collectively considered as part of plant and machinery exceeding Rs. 5,000 in cost. en-us Wed, 01 Oct 1997 00:00:00 +0530 Sat, 12 Sep 2009 11:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16771 The High Court of Madhya Pradesh directed the Tribunal to gather evidence to determine if each plate of centering material could be considered a plant for depreciation purposes under section 32 of the Income-tax Act, 1961, remanding the case for further examination and fresh decision. The dispute arose when the Assessing Officer restricted depreciation to 33.33%, which was later upheld by the Commissioner of Income-tax (Appeals) based on a precedent from the Income-tax Appellate Tribunal. The Department argued that centering material should be collectively considered as part of plant and machinery exceeding Rs. 5,000 in cost. Case-Laws Income Tax Wed, 01 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16771