https://www.taxtmi.com/caselaws?id=376478 The High Court ruled in favor of the assessee in a case concerning depreciation on dies and moulds, emphasizing their integral role in machinery and production processes. The court held that depreciation on dies and moulds falls under Section 31 of the Income-tax Act, 1961. Additionally, the court allowed depreciation on civil works related to the Reverse Osmosis Plant and TET Plant, considering them essential structures for business operations. The court aligned its decision with legal precedents and dismissed the Revenue's appeal, upholding the assessee's entitlement to depreciation on both issues. en-us Wed, 23 Jan 2019 00:00:00 +0530 Mon, 11 Mar 2019 06:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376478 The High Court ruled in favor of the assessee in a case concerning depreciation on dies and moulds, emphasizing their integral role in machinery and production processes. The court held that depreciation on dies and moulds falls under Section 31 of the Income-tax Act, 1961. Additionally, the court allowed depreciation on civil works related to the Reverse Osmosis Plant and TET Plant, considering them essential structures for business operations. The court aligned its decision with legal precedents and dismissed the Revenue's appeal, upholding the assessee's entitlement to depreciation on both issues. Case-Laws Income Tax Wed, 23 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376478