1996 (9) TMI 55 - HC - Income Tax

Summary

The High Court of Madhya Pradesh ruled that sheds used for drying tiles in the manufacturing process are considered 'plant' and the assessee is entitled to investment allowance on them. The Tribunal's decision was in favor of the assessee, stating that the sheds are integral to the manufacturing process and qualify as plant and machinery. The court upheld this decision, granting the investment allowance to the assessee.