https://www.taxtmi.com/caselaws?id=36272 A cold storage building used for refrigeration and preservation of goods can qualify as a factory building for depreciation purposes, because the cold storage activity involves a manufacturing process in the wider statutory sense. Applying the concept of "factory" and "manufacturing process" from the Factories Act for guidance, the building was treated as a factory building and depreciation was allowed accordingly. Thermocole insulation formed an integral part of the cold storage installation and the air-conditioning arrangement in the freezing chamber, so it fell within the inclusive definition of "plant" in section 43(3) and qualified for the higher depreciation rate. Both questions were answered in favour of the assessee. en-us Wed, 04 Feb 1981 00:00:00 +0530 Sat, 20 Mar 2010 13:30:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36272 A cold storage building used for refrigeration and preservation of goods can qualify as a factory building for depreciation purposes, because the cold storage activity involves a manufacturing process in the wider statutory sense. Applying the concept of "factory" and "manufacturing process" from the Factories Act for guidance, the building was treated as a factory building and depreciation was allowed accordingly. Thermocole insulation formed an integral part of the cold storage installation and the air-conditioning arrangement in the freezing chamber, so it fell within the inclusive definition of "plant" in section 43(3) and qualified for the higher depreciation rate. Both questions were answered in favour of the assessee. Case-Laws Income Tax Wed, 04 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36272