https://www.taxtmi.com/caselaws?id=39673 The court allowed depreciation on freezing chamber walls as 'plant' for a partnership firm, considering it integral for maintaining appropriate temperature in the cold storage. The court interpreted 'plant' under section 43(3) of the Income-tax Act to include such equipment for business purposes, allowing depreciation at 15%. Additionally, the court deemed the expenditure on transformer and service line replacement as revenue expenditure, following the principle that if a replacement enhances efficiency without creating a new enduring asset, it qualifies as revenue expenditure. As a result, both claims were accepted in favor of the firm. en-us Tue, 07 May 1974 00:00:00 +0530 Mon, 19 Apr 2010 16:11:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39673 The court allowed depreciation on freezing chamber walls as 'plant' for a partnership firm, considering it integral for maintaining appropriate temperature in the cold storage. The court interpreted 'plant' under section 43(3) of the Income-tax Act to include such equipment for business purposes, allowing depreciation at 15%. Additionally, the court deemed the expenditure on transformer and service line replacement as revenue expenditure, following the principle that if a replacement enhances efficiency without creating a new enduring asset, it qualifies as revenue expenditure. As a result, both claims were accepted in favor of the firm. Case-Laws Income Tax Tue, 07 May 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39673