COMMISSIONER OF INCOME-TAX versus MARGADARSI CHIT FUND (P.) LTD.
Article on the Depreciation Plant The claim that the Depression should be planted for business or business purposes and to buy bottles to lease them as Business Bottles will set up the plant does not matter, only on bulk purchase. Depreciation will not be allowed if individual items of purchase are also plant. It is indispensable in the Indian Income Tax Act, 1961, Sections 32 and 256 (2) to allow for such occupation or occupational depreciation.
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