https://www.taxtmi.com/caselaws?id=39403 Air-conditioning equipment installed in a safe deposit vault may constitute 'plant' for income-tax purposes where it functions as business apparatus rather than merely forming part of the premises. The equipment qualified as plant under the broad meaning applied to assets used in carrying on business. Relief under the dividend provisions was available on gross dividends without deduction of interest or administrative expenses, following the governing precedent. Both substantive tax issues were resolved in favour of the assessee. en-us Wed, 25 Jun 1975 00:00:00 +0530 Fri, 16 Apr 2010 12:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39403 Air-conditioning equipment installed in a safe deposit vault may constitute 'plant' for income-tax purposes where it functions as business apparatus rather than merely forming part of the premises. The equipment qualified as plant under the broad meaning applied to assets used in carrying on business. Relief under the dividend provisions was available on gross dividends without deduction of interest or administrative expenses, following the governing precedent. Both substantive tax issues were resolved in favour of the assessee. Case-Laws Income Tax Wed, 25 Jun 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39403