https://www.taxtmi.com/caselaws?id=24718 The court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee, denying the depreciation claim. Leaf springs were deemed not to qualify as "machinery" under the Income-tax Act as they did not generate power or modify natural forces, essential criteria for classification. The decision emphasized the necessity for mechanical contrivances meeting specific criteria to be classified as industrial machinery, as outlined in legal precedents and the interpretation of the term "machinery" within tax laws. en-us Wed, 29 Jun 1988 00:00:00 +0530 Thu, 21 Jan 2010 18:55:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24718 The court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee, denying the depreciation claim. Leaf springs were deemed not to qualify as "machinery" under the Income-tax Act as they did not generate power or modify natural forces, essential criteria for classification. The decision emphasized the necessity for mechanical contrivances meeting specific criteria to be classified as industrial machinery, as outlined in legal precedents and the interpretation of the term "machinery" within tax laws. Case-Laws Income Tax Wed, 29 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24718