https://www.taxtmi.com/caselaws?id=424734 The HC concluded that bottles and crates used by the appellant in its soft drink manufacturing business qualify as "plant" under Section 32(1)(i) of the Income Tax Act, 1961. It overturned the Income Tax Appellate Tribunal's decision, which had denied the appellant's claim for 100% depreciation on these items. The HC emphasized a broad interpretation of "plant," aligning with previous rulings from the Rajasthan and Andhra Pradesh High Courts. The appeal was allowed in favor of the appellant, recognizing the items as essential tools in the business operations. en-us Wed, 15 Jun 2022 00:00:00 +0530 Wed, 25 Oct 2023 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424734 The HC concluded that bottles and crates used by the appellant in its soft drink manufacturing business qualify as "plant" under Section 32(1)(i) of the Income Tax Act, 1961. It overturned the Income Tax Appellate Tribunal's decision, which had denied the appellant's claim for 100% depreciation on these items. The HC emphasized a broad interpretation of "plant," aligning with previous rulings from the Rajasthan and Andhra Pradesh High Courts. The appeal was allowed in favor of the appellant, recognizing the items as essential tools in the business operations. Case-Laws Income Tax Wed, 15 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424734