https://www.taxtmi.com/caselaws?id=60312 The Tribunal ruled in favor of the assessee, allowing 100% depreciation for the gas storage tank, considering it as a gas cylinder despite its size and structure. The Commissioner's contention that the tank should be depreciated at 20% due to its permanent installation was rejected. The Tribunal emphasized interpreting the depreciation schedule entries to avoid anomalous results and upheld the assessee's claim for full depreciation. The appeals by both the assessee and the department were adjudicated, with the assessee's appeal being allowed and the department's appeal dismissed, ultimately favoring the assessee's claim for 100% depreciation on the gas storage tank. en-us Thu, 10 Sep 1992 00:00:00 +0530 Tue, 04 Jan 2011 16:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60312 The Tribunal ruled in favor of the assessee, allowing 100% depreciation for the gas storage tank, considering it as a gas cylinder despite its size and structure. The Commissioner's contention that the tank should be depreciated at 20% due to its permanent installation was rejected. The Tribunal emphasized interpreting the depreciation schedule entries to avoid anomalous results and upheld the assessee's claim for full depreciation. The appeals by both the assessee and the department were adjudicated, with the assessee's appeal being allowed and the department's appeal dismissed, ultimately favoring the assessee's claim for 100% depreciation on the gas storage tank. Case-Laws Income Tax Thu, 10 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60312