https://www.taxtmi.com/caselaws?id=56952 The Tribunal dismissed the revenue's appeal concerning expenditure incurred on machinery or building and the depreciation rate on electric furnaces. The Tribunal held that the expenditure on crane gantry supports, stanchions, and electric switch room sub-station was part of the actual cost of machinery, qualifying for investment allowance. Additionally, the Tribunal supported the higher depreciation rate of 15% on electric furnaces, classifying them as machine tools based on technical evidence. The Commissioner (Appeals)'s decisions were upheld, and the revenue's objections were rejected. en-us Thu, 11 Aug 1983 00:00:00 +0530 Tue, 07 Dec 2010 15:05:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56952 The Tribunal dismissed the revenue's appeal concerning expenditure incurred on machinery or building and the depreciation rate on electric furnaces. The Tribunal held that the expenditure on crane gantry supports, stanchions, and electric switch room sub-station was part of the actual cost of machinery, qualifying for investment allowance. Additionally, the Tribunal supported the higher depreciation rate of 15% on electric furnaces, classifying them as machine tools based on technical evidence. The Commissioner (Appeals)'s decisions were upheld, and the revenue's objections were rejected. Case-Laws Income Tax Thu, 11 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56952