1996 (4) TMI 98 - HC - Income Tax

Summary

The High Court of Patna ruled in favor of the assessee, allowing 100% depreciation on new purchases of bottles and containers worth Rs. 29,55,813. The court held that the bottles constituted plant under section 43(3) of the Income-tax Act, 1961, and the assessee was entitled to depreciation. The decision was supported by previous judgments of Delhi, Rajasthan, and Andhra Pradesh High Courts.