Classification of Asset as building or machinery

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Rajpreet Singh (Querist)
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07 January 2009 Dear Sir,
Oil Storage Tanks whether these can be classified as Plant & Machinery and 15% depreciation can be taken on it?? or it is Building eligible for 10% depreciation. Please clarify?

K V Subba Rao

K V Subba Rao (Expert)
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07 January 2009 Plant & Machinery

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http://209.85.175.132/search?q=cache:0yRZv5MzJ6QJ:ipgcl-ppcl.gov.in/documents/IPGCL-2006-07-31-03-2006/fa04-05.pdf+oil+storage+tanks+buildings+or+plant+%26+machinery+for+depreciation&hl=en&ct=clnk&cd=10&gl=in

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