Court Denies Higher Depreciation Rate Claim; Different Asset Blocks Have Distinct Rates for Equipment, Fittings, and Vehicles.

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....Higher rate of depreciation - The appellant's argument that since ‘main machinery' used by it is 'injection moulding machine', all the items should qualify for depreciation @30% is devoid of merits since lab equipments, electrical fittings, vehicles etc. form separate block of assets on which different rates of depreciation are applicable.....