https://www.taxtmi.com/caselaws?id=294572 Moulds used by an electrical and electronic goods manufacturer were treated as eligible for 40% depreciation where they were functionally used in processing plastic granules into plastic components for assembly into the final products. The relevant test was the use of the moulds in the manufacturing process, not merely the nature of the finished goods. On that basis, moulds used in such production activity could qualify as moulds used in rubber and plastic goods factories under Appendix I to Rule 5 of the Income-tax Rules, 1962, and the Revenue's objection to the higher depreciation rate failed. en-us Fri, 07 Sep 2012 00:00:00 +0530 Wed, 21 Apr 2021 12:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294572 Moulds used by an electrical and electronic goods manufacturer were treated as eligible for 40% depreciation where they were functionally used in processing plastic granules into plastic components for assembly into the final products. The relevant test was the use of the moulds in the manufacturing process, not merely the nature of the finished goods. On that basis, moulds used in such production activity could qualify as moulds used in rubber and plastic goods factories under Appendix I to Rule 5 of the Income-tax Rules, 1962, and the Revenue's objection to the higher depreciation rate failed. Case-Laws Income Tax Fri, 07 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294572