depreciation

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silvi ubal gomes (Querist)
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27 March 2009 Why tea bushes and livestock are specifically exempted from the definiton of plant for the purpose of depreciation under income tax act.

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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27 March 2009 There in no finit life of tea bushes, they remain so ever and provides tea leave in every season, but due to snow fall or pesttea bushes can wiped out so due to no certaintity regarding life, benefit providing it is not viable to charge depreciation.

same are with live stock , although they , may be, too valuable part of business, uncertaintity of their life , and benefit provided by them they can be chrged to depreciation in terms of depreciation.

special benefit provided u/s 36(1)(vi) in respect of them

These are my view and it may / may not match with other.

Logically Law is Law tea bushes and live srock are impliedly excluded from the definition of plant u/s 43(1)