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2007 (8) TMI 327 - PUNJAB AND HARYANA HIGH COURTDepreciation on plant, machinery and building – commercial production of sugar has commenced during the relevant period - On the bare interpretation of section 32 it cannot be claimed that the machinery or plant was not used by the assessee for the purposes of business - depreciation is allowable by granting deductions in respect of building, machinery, plant, etc., if it is used for the purpose of business or profession - order of the Tribunal allowing the assessee’s appeal does not suffer from any legal infirmity – order of AO granting deduction not prejudicial to revenue
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