https://www.taxtmi.com/caselaws?id=26898 The court determined that insulation boards manufactured by the assessee fell under item 18 of Schedule IX to the Income-tax Act, 1961, encompassing "Paper, pulp and newsprint." The Tribunal upheld the assessee's claim for initial depreciation, considering the manufacturing process, raw materials, and industry classification akin to paper production. Relying on precedents and industry standards, the court concluded that the products qualified as paper, supporting the Tribunal's decision in favor of the assessee against the Revenue. en-us Tue, 13 Nov 1984 00:00:00 +0530 Tue, 09 Feb 2010 12:00:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26898 The court determined that insulation boards manufactured by the assessee fell under item 18 of Schedule IX to the Income-tax Act, 1961, encompassing "Paper, pulp and newsprint." The Tribunal upheld the assessee's claim for initial depreciation, considering the manufacturing process, raw materials, and industry classification akin to paper production. Relying on precedents and industry standards, the court concluded that the products qualified as paper, supporting the Tribunal's decision in favor of the assessee against the Revenue. Case-Laws Income Tax Tue, 13 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26898