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Section 43(3) - Meaning of term "Plant" - Income Tax - Ready Reckoner - Income Tax

Extract

SEC 43(3) : MEANING OF PLANT Plant includes ships, vehicles, books, scientific apparatus and surgical equipment used for the purposes of the business or profession but does not include tea bushes or livestock OR BUILDINGS OR FURNITURE AND FITTINGS even if specifically designed.

Section 43 - Definitions of certain terms relevant to income from profits and gains of business or profession - Income-tax Act, 1961

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