Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (2) TMI 213 - HC - Income TaxDepreciation on Plant & Machinery - sugar mill - Revenue contending that same is not allowable on ground that mill was non-functional during the period 29.02.2000 to 19.12.2006 – A.Y. 2002-03, 2005-06 and 2006-07 – Held that:- Mill was not functional in the intervening period for the reasons beyond the control of the assessee company but immediately after the revival scheme was sanctioned by High Court, the mill started working in the beginning of next sugar season. Since, Plant and machinery were kept ready for use with the intention and desire to make it operational as soon as liquid funds were made available and the fact that the factory was ultimately made operational depreciation is therefore allowable – Decided against the Revenue.
|