https://www.taxtmi.com/caselaws?id=286181 Initial depreciation under the Income-tax Act, 1922 was confined to new machinery or plant actually installed, and the statutory inclusion of vehicles within "plant" did not extend to a detachable part of a vehicle. A bus body was not treated as a self-contained unit of plant because it had no practical utility apart from the vehicle itself, even if it increased seating capacity. The replacement body therefore did not qualify as new plant, and the assessee was not entitled to initial depreciation on the expenditure. en-us Mon, 11 Feb 1963 00:00:00 +0530 Sat, 15 Feb 2020 14:32:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286181 Initial depreciation under the Income-tax Act, 1922 was confined to new machinery or plant actually installed, and the statutory inclusion of vehicles within "plant" did not extend to a detachable part of a vehicle. A bus body was not treated as a self-contained unit of plant because it had no practical utility apart from the vehicle itself, even if it increased seating capacity. The replacement body therefore did not qualify as new plant, and the assessee was not entitled to initial depreciation on the expenditure. Case-Laws Income Tax Mon, 11 Feb 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286181