https://www.taxtmi.com/caselaws?id=310733 Gujarat HC held that conversion of milk to skimmed milk powder constitutes manufacturing activity eligible for additional depreciation. The court determined that the four-stage process (standardization, preheating, evaporation, spray drying) creates a commercially distinct, irreversible product different from raw milk. Following Aspinwall Co. Ltd precedent, the court applied common parlance meaning of manufacturing as production giving materials new forms and qualities. Since the complex process results in a new commodity that cannot be restored to original form, the assessee was entitled to additional depreciation on plant and machinery. en-us Thu, 23 Jan 2014 00:00:00 +0530 Thu, 09 Nov 2023 20:50:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310733 Gujarat HC held that conversion of milk to skimmed milk powder constitutes manufacturing activity eligible for additional depreciation. The court determined that the four-stage process (standardization, preheating, evaporation, spray drying) creates a commercially distinct, irreversible product different from raw milk. Following Aspinwall Co. Ltd precedent, the court applied common parlance meaning of manufacturing as production giving materials new forms and qualities. Since the complex process results in a new commodity that cannot be restored to original form, the assessee was entitled to additional depreciation on plant and machinery. Case-Laws Income Tax Thu, 23 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310733