https://www.taxtmi.com/caselaws?id=24751 The High Court upheld the Tribunal's decision and denied the assessee's claim for depreciation at 15% for plant and machinery. The court emphasized the need for factual evidence to support the higher depreciation rate based on contact with corrosive chemicals. Due to the lack of substantiated proof of such contact, the court ruled in favor of the Revenue, affirming the Tribunal's decision aligned with the Income-tax Officer's assessment of a 10% depreciation rate. en-us Wed, 02 Mar 1988 00:00:00 +0530 Fri, 22 Jan 2010 11:16:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24751 The High Court upheld the Tribunal's decision and denied the assessee's claim for depreciation at 15% for plant and machinery. The court emphasized the need for factual evidence to support the higher depreciation rate based on contact with corrosive chemicals. Due to the lack of substantiated proof of such contact, the court ruled in favor of the Revenue, affirming the Tribunal's decision aligned with the Income-tax Officer's assessment of a 10% depreciation rate. Case-Laws Income Tax Wed, 02 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24751