https://www.taxtmi.com/caselaws?id=36557 The High Court held that the canteen building within the factory premises qualified as a "factory building" for depreciation purposes under the I.T. Rules, 1962. The court agreed with the Tribunal's decision to allow a 10% depreciation rate, emphasizing the canteen's integral role in the factory operations and significant wear and tear. The court's interpretation considered the canteen as part of the manufacturing process, entitling it to the higher depreciation rate. The decision favored the assessee, Messrs. Engine Valves Ltd., with costs awarded in their favor. en-us Mon, 14 Jul 1980 00:00:00 +0530 Tue, 23 Mar 2010 11:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36557 The High Court held that the canteen building within the factory premises qualified as a "factory building" for depreciation purposes under the I.T. Rules, 1962. The court agreed with the Tribunal's decision to allow a 10% depreciation rate, emphasizing the canteen's integral role in the factory operations and significant wear and tear. The court's interpretation considered the canteen as part of the manufacturing process, entitling it to the higher depreciation rate. The decision favored the assessee, Messrs. Engine Valves Ltd., with costs awarded in their favor. Case-Laws Income Tax Mon, 14 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36557