https://www.taxtmi.com/caselaws?id=17631 The High Court of Andhra Pradesh upheld the Tribunal's decision to allow a deduction under section 32 of the Income-tax Act for the purchase of bottles leased out as a business. The court determined that individual purchases of items essential to business operations, such as the bottles in question, could qualify for depreciation as "plant" under the Act. The judgment emphasized that the key factor for eligibility for depreciation is whether the item is considered essential for the business or profession, rejecting the argument that deductions should only apply to bulk purchases exceeding a certain amount. en-us Thu, 13 Mar 1997 00:00:00 +0530 Wed, 23 Sep 2009 17:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17631 The High Court of Andhra Pradesh upheld the Tribunal's decision to allow a deduction under section 32 of the Income-tax Act for the purchase of bottles leased out as a business. The court determined that individual purchases of items essential to business operations, such as the bottles in question, could qualify for depreciation as "plant" under the Act. The judgment emphasized that the key factor for eligibility for depreciation is whether the item is considered essential for the business or profession, rejecting the argument that deductions should only apply to bulk purchases exceeding a certain amount. Case-Laws Income Tax Thu, 13 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17631