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2003 (2) TMI 43 - HC - Income TaxThe assessee is a company engaged in the business of running a hotel. For the assessment year 1988-89, the assessee-company claimed 100 per cent. depreciation on furniture items costing less than Rs. 5,000. While completing the assessment, the Assessing Officer disallowed this claim on the ground that these items cannot be considered as plant and machinery. - The argument of the appellant is that furniture is under a separate head and plant and machinery are also under a separate head. Furniture cannot come under plant. We agree with the argument of learned counsel for the appellant. Hence, we hold that the respondent is not entitled to 100 per cent. depreciation
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