1988 (11) TMI 11 - HC - Income Tax

Summary

The High Court of Bombay ruled that roads, walks, driveways, and approach roads inside a factory premises can be considered as 'plant' for depreciation purposes. The Tribunal granted the assessee a higher rate of depreciation, which the court upheld. The assessee can continue to avail of depreciation at a lower rate if considered as building. No costs were awarded.