https://www.taxtmi.com/manuals?id=4989 New machinery or plant includes items previously used abroad if not earlier used in India, imported, and not previously depreciated; the judicial distinction treats machinery as items that perform production functions and plant as items essential to enable production, but courts apply a functionality test so that a building specially planned and constructed to serve an assessee's technical requirements may be treated as plant for investment allowance and for CGST input exclusion purposes, with the ultimate determination being a question of fact. en-us Thu, 12 Sep 2024 13:05:00 +0530 Thu, 12 Jun 2025 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4989 New machinery or plant includes items previously used abroad if not earlier used in India, imported, and not previously depreciated; the judicial distinction treats machinery as items that perform production functions and plant as items essential to enable production, but courts apply a functionality test so that a building specially planned and constructed to serve an assessee's technical requirements may be treated as plant for investment allowance and for CGST input exclusion purposes, with the ultimate determination being a question of fact. Manuals Income Tax Thu, 12 Sep 2024 13:05:00 +0530 https://www.taxtmi.com/manuals?id=4989