Depreciation allowed as plant & machinery on AC, telephone, office equipment

Advertisement Himalaya Wellness Company Vs Deputy Commissioner of Income-tax (ITAT Bangalore) There is no condition in section 32 that depreciation on plant and machinery is allowable only if they are used in the factory for manufacturing/production process. Assets like air conditioners, telephones, Samsung tab, office equipments and canteen equipments are in the nature of plant and machinery. Depreciation under section 32 is allowed. Facts- The assessee is engaged in the business of manufacture and sale of herbal pharmaceutical products (Ayurvedic medicaments and preparations), consumer / ...