https://www.taxtmi.com/caselaws?id=17645 Foreign tax deducted at source in the United Kingdom from dividend and interest income was not includible in total income for Indian assessment, so only the net foreign income was taxable on the stated precedent. Livestock, including stallions and mares, was excluded from the definition of "plant" by the retrospective amendment to section 43(3). Depreciation under section 32 was therefore unavailable for such animals, rejecting the claim that they qualified as plant assets. en-us Wed, 10 Jul 1996 00:00:00 +0530 Wed, 23 Sep 2009 18:17:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17645 Foreign tax deducted at source in the United Kingdom from dividend and interest income was not includible in total income for Indian assessment, so only the net foreign income was taxable on the stated precedent. Livestock, including stallions and mares, was excluded from the definition of "plant" by the retrospective amendment to section 43(3). Depreciation under section 32 was therefore unavailable for such animals, rejecting the claim that they qualified as plant assets. Case-Laws Income Tax Wed, 10 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17645