https://www.taxtmi.com/caselaws?id=36670 The Appellate Tribunal ruled in favor of the assessee, allowing a higher depreciation rate of 10% on machinery in an aerated water factory, considering it as electrical machinery. The Tribunal rejected the Income Tax Officer's attempt to reduce the rate to 7%, emphasizing the absence of any mistake warranting the lower rate. The decision underscored the significance of accurately assessing machinery to determine the appropriate depreciation rate, directing a reassessment to ascertain the correct rate and potentially entitling the assessee to a refund. en-us Wed, 09 Jan 1980 00:00:00 +0530 Tue, 23 Mar 2010 18:05:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36670 The Appellate Tribunal ruled in favor of the assessee, allowing a higher depreciation rate of 10% on machinery in an aerated water factory, considering it as electrical machinery. The Tribunal rejected the Income Tax Officer's attempt to reduce the rate to 7%, emphasizing the absence of any mistake warranting the lower rate. The decision underscored the significance of accurately assessing machinery to determine the appropriate depreciation rate, directing a reassessment to ascertain the correct rate and potentially entitling the assessee to a refund. Case-Laws Income Tax Wed, 09 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36670