Case Law Details
Case Name : Victory Aqua Farm Ltd Vs ACIT (Supreme Court of India)
Related Assessment Year :
Courts :
Supreme Court of India
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Brief Facts- The assessee is a company doing business of ‘Aqua Culture’. It grows prawns in specially designed ponds.
Question of Law- Whether ‘natural pond’ which as per the assessee is specially designed for rearing prawns would be treated as ‘Plant’ within Section 32 of the Income-tax Act, 1961.
Contention of the Assessee
The assessee has claimed depreciation in respect
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