https://www.taxtmi.com/caselaws?id=60602 The Appellate Tribunal upheld the decision to treat a hotel building as plant for depreciation purposes, emphasizing the functional test and nature of use in determining classification. Referring to precedents, including the Supreme Court's ruling in CIT v. Taj Mahal Hotel, the Tribunal concluded that the building served as a tool of trade for the business, qualifying it as plant. The judgment reaffirmed the importance of functionality in such classifications, ultimately dismissing the appeals and supporting the CIT(A)'s decision. en-us Mon, 15 May 1989 00:00:00 +0530 Fri, 07 Jan 2011 11:38:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60602 The Appellate Tribunal upheld the decision to treat a hotel building as plant for depreciation purposes, emphasizing the functional test and nature of use in determining classification. Referring to precedents, including the Supreme Court's ruling in CIT v. Taj Mahal Hotel, the Tribunal concluded that the building served as a tool of trade for the business, qualifying it as plant. The judgment reaffirmed the importance of functionality in such classifications, ultimately dismissing the appeals and supporting the CIT(A)'s decision. Case-Laws Income Tax Mon, 15 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60602