https://www.taxtmi.com/caselaws?id=22165 The Court ruled in favor of the assessee, allowing a higher rate of depreciation for machinery exposed to corrosive chemicals in a fish processing business. The judgment highlighted the significance of expert opinions and technical details in interpreting depreciation claims under the Income-tax Act, emphasizing the need to consider the impact of corrosive substances on machinery lifespan. The Court disagreed with the Revenue's argument and upheld the Income-tax Officer's decision to accept the claim for higher depreciation rate based on the expert's certificate demonstrating the machinery's exposure to corrosive chemicals. en-us Wed, 27 Feb 1991 00:00:00 +0530 Mon, 07 Dec 2009 17:34:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22165 The Court ruled in favor of the assessee, allowing a higher rate of depreciation for machinery exposed to corrosive chemicals in a fish processing business. The judgment highlighted the significance of expert opinions and technical details in interpreting depreciation claims under the Income-tax Act, emphasizing the need to consider the impact of corrosive substances on machinery lifespan. The Court disagreed with the Revenue's argument and upheld the Income-tax Officer's decision to accept the claim for higher depreciation rate based on the expert's certificate demonstrating the machinery's exposure to corrosive chemicals. Case-Laws Income Tax Wed, 27 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22165