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2013 (1) TMI 778 - ITAT PUNEDisallowance of depreciation on wind mills @80% - Rate of depreciation on expenses incurred in connection with installation, erection and commissioning of the wind mills - Cost of civil work consisting of foundation/ground work - Held that:- the cost incurred by the asessee on civil work cannot be treated as an integral part of the entire wind mill - depreciation is resticted to @ 10% - cost of foundation as well as cost incurred on erection and commissioning forms integral part of cost of the windmill and thus eligible for depreciation at 80% - Partly in favor of assessee Whether the profits earned on one unit can be set off against another unit - Held that:- assessee had been setting off the loss of depreciation from different wind mill undertakings against the income of the other business - Assessee is maintaining separate books of accounts in respect of 3 wind mills and working out the profit or losses - three wind mills at the 3 locations are independently operated and the financial results are separately worked out - every unit constitute a separate undertaking engaged in the eligible business and losses from one unit cannot be set off against the profits of another unit engaged in the same business for the purpose of computing the deduction u/s 80IA
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