https://www.taxtmi.com/caselaws?id=27654 A payment made to the Textile Commissioner under clause 21C(1)(b) of the Cotton Textile (Control) Order, 1948, in lieu of producing and packing the minimum quantity of controlled cloth, was treated as business expenditure and not as a penalty or a penalty-like outlay, so it was deductible under the Income-tax Act, 1961. Air-conditioners and electric fans installed in office premises were also held to be plant or machinery, because the functional test applies and such articles serve as instruments of the trade rather than forming part of the premises; they therefore qualified for depreciation and development rebate under sections 32 and 33. en-us Thu, 22 Sep 1983 00:00:00 +0530 Mon, 15 Feb 2010 12:10:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27654 A payment made to the Textile Commissioner under clause 21C(1)(b) of the Cotton Textile (Control) Order, 1948, in lieu of producing and packing the minimum quantity of controlled cloth, was treated as business expenditure and not as a penalty or a penalty-like outlay, so it was deductible under the Income-tax Act, 1961. Air-conditioners and electric fans installed in office premises were also held to be plant or machinery, because the functional test applies and such articles serve as instruments of the trade rather than forming part of the premises; they therefore qualified for depreciation and development rebate under sections 32 and 33. Case-Laws Income Tax Thu, 22 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27654