Allowability of depreciation on oil well


Last updated: 30 March 2009

Court :
ITAT, โ€˜Cโ€™ BENCH, AHMEDABAD

Brief :
It might be true that as per certain decisions a well or a tube-well is an apparatus and therefore a plant but these decisions are all before their inclusion in the definition of building; consequently, all types of wells and tube-wells would be included in the term โ€œbuildingโ€

Citation :
ACIT v. Niko Resources Ltd. ITA NOS. 661 & 789/AHD/2005

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