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2021 (7) TMI 73 - HC - Income TaxDepreciation on roads in the category of plant and machinery - whether roads developed and maintained by the assessee by agreement with the Government on the State/National Highway is eligible for depreciation as “building”? - HELD THAT:- As relying on M/S. TAMILNADU ROAD DEVELOPMENT COMPANY LTD., CHENNAI [2021 (2) TMI 548 - MADRAS HIGH COURT] development done by the assessee by forming the road would qualify as a plant so as to be entitled to depreciation under Section 32 - substantial question of law as answered against the Revenue and in favour of the assessee and it is held that the assessee is entitled for depreciation at the rate of 10%.
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