https://www.taxtmi.com/caselaws?id=26490 Depreciation under section 32 was governed by the rate prescribed in Rule 5 of the Income-tax Rules, and Entry III-B(3) in Appendix I, Part I provided a special 15% rate for machinery and plant used in the manufacture of artificial silk, excluding wooden parts. That entry was construed as applying to machinery and plant employed in the manufacturing process itself, not only to machinery manufactured for producing artificial silk. On that construction, the assessee was entitled to the special depreciation rate, and the Tribunal's denial of the allowance was incorrect. en-us Mon, 10 Mar 1986 00:00:00 +0530 Fri, 05 Feb 2010 13:29:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26490 Depreciation under section 32 was governed by the rate prescribed in Rule 5 of the Income-tax Rules, and Entry III-B(3) in Appendix I, Part I provided a special 15% rate for machinery and plant used in the manufacture of artificial silk, excluding wooden parts. That entry was construed as applying to machinery and plant employed in the manufacturing process itself, not only to machinery manufactured for producing artificial silk. On that construction, the assessee was entitled to the special depreciation rate, and the Tribunal's denial of the allowance was incorrect. Case-Laws Income Tax Mon, 10 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26490