Tribunal held that the oil rigs which form part of plants of ‘specific category’ which was used for drilling operations for purpose of exploration and extraction of mineral oil in field of mineral oil concerns, the assessee was entitled to a higher rate of depreciation. (AY.2013-14)
Addl.CIT v. Quippo Oil & Gas Infrastructure Ltd. (Delhi) 201 ITD 47(Delhi)(Trib)
S. 32: Depreciation —Oil drilling rigs-Entitled to a higher rate of depreciation. [R. 5]