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1999 (7) TMI 46 - BOMBAY HIGH COURTExtract: .......ng cannot be regarded as plant within the meaning of section 43(3) of the Act and no depreciation would be allowable thereon under section 32 of the Act. The question referred to us is, therefore, answered in the negative, that is, in favour of the Revenue and against the assessee. The reference is disposed of accordingly with no order as to costs.
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