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2006 (2) TMI 130 - MADRAS HIGH COURTDepreciation - "Whether Tribunal was right in allowing 100 per cent, depreciation on printing cylinders, sintex shipper ice box, MS bins which does not serve any purpose individually?" - cost of each asset was not higher than Rs. 5,000. The printing cylinders are mainly used in the printing industry and the matter to be printed is screwed on to these cylinders and then prints are taken. Therefore these printing cylinders were being used as part of the plant. The MS bins are being used as individual items and each one of them is a plant as a single unit. The same is the case for shippers sintex ice boxes, as shippers sintex ice boxes are of different capacities and are used individually as per the requirements. So, each of these assets is a plant - Held that depreciation of 100 per cent, on printing cylinders, MS bins and shippers sintex ice boxes are eligible under the first proviso to section 32(1)(ii) of the Act, and each of these assets is a plant individually
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