Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (8) TMI 566 - CALCUTTA HIGH COURTAdditional depreciation claim - Held that:- We find clause (iia) of section 32(1) provides for further depreciation on any new machinery or plant which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture or production of any article or thing at the rate provided to be allowed as a deduction under clause (ii) of the said section. There is no dispute on facts regarding the assessee having acquired and installed the plant and machinery for the purpose of generation of power necessary for the production of the items it manufactures. The assessee having satisfied those conditions is entitled to claim the additional depreciation as provided by the said clause (iia) irrespective of its original claim for depreciation having been made under clause (i) of the said section. We do not find any relation of clause (iia) of the said section with the head of deduction claimed by the assessee in the matter of determining whether it is entitled to a claim for additional depreciation. Decided in favour of the assessee.
|