Law:

Section:

Section 43(3) of the Income-tax Act, 1961 - Plant  Bottles and crates used in business of manufacture of soft drinks run by assessee-company are to be treated as plant [A.Y. 1979-80], Bottles and crates used in the business of manufacture of soft drinks run by the assessee-company are to be treated as plant and not is stock-in-trade. JUDGMENT The following solitary question has been referred in this case: "Whether the Income-tax Appellate Tribunal was legally correct in holding that the bottles and crates in the assessee's case did not constitute its stock-in-trade and should be treated as plant ?" We have heard learned counsel for the assessee who has…

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